MTG share price falls as proposed Huya joint venture shelved

Image: MTG

Esports entertainment company Modern Times Group (MTG) has seen its share price take a near 14-per-cent hit after announcing the termination of a proposed strategic joint venture with Chinese live-streaming platform Huya.

The mutual termination was announced today (Tuesday), with MTG’s share price on the Stockholm Stock Exchange falling 13.8 per cent to SEK99.98 (€9.47/$10.5) by 3pm GMT. Huya agreed the strategic joint venture with MTG in September, a deal that was to lead to it acquiring a minority stake in the latter’s esports organisation, ESL.

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