European Union: Issued EU Commission ruling in investigation into the proposed joint venture by Savvy, Tencent and Ying approving the merger

On 10 August 2023, the European Commission (EC) ruled on the merger review regarding a joint venture by Savvy Games Group, Tencent Holdings Limited and Mr Ying Shuling, allowing for the creation of the joint venture. The new joint venture, VSPN Group Limited, would organise and commercialise eSports tournaments, as well as provide influencer talent management. In its ruling, the EC stated that the proposed acquisition does not raise competition concerns, and that the joint venture "has negligible actual and foreseen activities in the European Economic Area".