Tencent initiates merger of China’s Twitch-like sites Huya and Douyu in move to consolidate gaming lead

• The deal comes as Tencent aims to cement its position in the domestic gaming and e-sports market as Chinese tech companies come under heavy scrutiny in the US
• After the transaction, Tencent’s stake in Huya would be 51 per cent and its voting power will increase to 70.4 per cent