MTG announces termination by mutual agreement with HUYA of negotiations on definitive agreement for China Joint Venture and ESL investment
STOCKHOLM - January 21st, 2020 08.00am CET — Modern Times Group MTG AB (MTG) today announces that MTG and HUYA Inc. (Huya) have mutually terminated the negotiations related to the definitive agreement for the forming of a strategic Joint Venture for esport expansion into China and a minority stake investment in MTG’s portfolio company ESL.The term sheet agreement was originally announced September 2nd 2019 and has since been subject to customary due diligence and final negotiations. Differing views between the two parties on allocation of contractual risk and other key commercial terms are