Chinese Watchdog Approves Tencent’s Studio 9 Stake Buy

China’s market regulator announced on Tuesday, August 24, it has approved Tencent Holdings’  plan to purchase an equity stake in Chinese animation company Studio 9. The State Administration for Market Regulation made the announcement on its website.

Tencent, which was already an investor in Studio 9, reported its plan to purchase additional shares from another shareholder to the regulator, according to a separate statement published in June.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.