REUTERS: On Tuesday, China’s antitrust authority unanimously authorized Tencent Holdings Ltd’s plan to buy Sogou Inc, the country’s third-largest search engine, for US$3.5 billion. The imminent approval by the State Administration of Market Regulation was first reported by Reuters in April (SAMR).
Tencent agreed to buy the remaining 60% of Sogou, which is listed on the New York Stock Exchange, in September, making it the latest Chinese company to depart the US market amid trade concerns between the world’s two largest economies.
(In Hong Kong, Pei Li contributed reporting; Muralikumar Anantharaman edited the piece.)
Reuters is the source of this information./n
