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Market Chatter: China Watchdog Conditionally Approves Tencent Music's Acquisition of Ximalaya

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China's competition watchdog conditionally approved Tencent Music Entertainment's (HKG:1698) bid to acquire Chinese audio platform Ximalaya, an online audio platform, according to media reports Tuesday.

According to the State Administration for Market Regulation's notice, Tencent and Ximalaya are required to meet certain commitments, including not raising prices for online audio streaming platforms.

Tencent Music agreed last year to acquire Ximalaya for $1.26 billion in cash and an issuance of stock.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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