(Yicai Global) Sept. 21 -- Linzhi Tencent Technology has taken full control of one of China’s leading live-streaming game platforms, Huya, the Securities Times reported today, citing data from the Tianyancha corporate registry website.

Linzhi Tencent Technology is a wholly-owned unit of Shenzhen-based tech titan Tencent Holdings.

Tencent previously held a 36.8 stake in Guangzhou-based Huya with 50.9 percent of voting rights, and 38 percent of Douyu, another Chinese live-streaming platform.

Tencent proposed the merger of these two firms in June to better vie with arch-rival TikTok’s Chinese alter ego Douyin, which is also owned by Beijing Bytedance Technology.

Tencent stock [HKG:0700] fell 1.24 percent to close out the morning at HKD518.50 (USD66.89). Huya [NYSE:HUYA] shed 2.5 percent to end up at USD26.87 on Sept. 18.

Editor: Ben Armour