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Chinese regulators allowed Tencent to delist Sogou from NYSE

State regulation of stock markets is supposed to prevent tech bubble forming around the World

13.Jul.21 8:46 AM
By Abigail Richards


Chinese regulators allowed Tencent to delist Sogou from NYSE
Chinese regulators have approved Tencent decision to remove search engine Sogou from the stock market. Tencent wants to acquire the interest of around 60 percent that the tech company does not yet own. Sogou is removed from The New York Stock Exchange by Tencent.

On Monday it appeared that the Chinese regulator does not agree with the merger plans of Douyu and Huya. Tencent holds a 37 percent stake in Huya and owns more than a third of Douyu. Chinese stock market regulator applies more and more pressure recently. Foreign IPOs of Chinese companies are virtually banned, M&A are checked comprehensively. Competition authorities blocked several big tech events.

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