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China market regulator approves Tencent's $3.5 billion deal to take Sogou private

China market regulator approves Tencent's $3.5 billion deal to take Sogou private
China market regulator approves Tencent's $3.5 billion deal to take Sogou private   -   Copyright  Thomson Reuters 2021
By Reuters

– China’s antitrust regulator unconditionally approved on Tuesday Tencent Holdings Ltd’s plan to take the country’s no.3 search engine Sogou Inc private in a $3.5 billion deal.

Reuters had reported the pending approval in April by State Administration of Market Regulation (SAMR).

The deal, announced in September, was for Tencent to buy the 60% of U.S.-listed Sogou that it didn’t already own, making it the latest Chinese company to exit U.S. markets amid tensions between the world’s two largest economies.