(Reuters) – China’s antitrust agency stands ready to clarify tech giant Tencent Holdings Ltd’s plan to take the country’s No. 3 search engine, Sogou, private. Three people with knowledge of the matter told Reuters, a move that signals the watchdog is ready to wave some deals through, even if it tightens controls on the sector.

FILE PHOTO: A Tencent logo can be seen on its booth at the International Trade Fair for Services (CIFTIS) in Beijing, China on September 4, 2020. REUTERS / Tingshu Wang / File Photo

The regulator, the State Administration of Market Regulation (SAMR), has no objection to the $ 3.5 billion deal for 60% of the US-listed Sogou, which Tencent does not own while Tencent is ready to set it up A special mechanism to ensure data security – a first for the approval of SAMR deals.

Tencent also has to pay a comparatively small fine – 500,000 yuan ($ 76,000) – for failing to properly report deals for antitrust reviews, two respondents said, consistent with the past …

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