Asia Tech Wire (Feb 5) -- Chinese video live-streaming platform DouYu International Holdings Ltd. (Nasdaq: DOYU), whose founder was arrested on criminal charges, has denied plans to merge with peer HUYA Inc. (NYSE: HUYA).

Rumours have been circulating recently that HUYA and DouYu, China's top two video live-streaming platforms, are about to merge.

A DouYu representative responded to this on Monday, saying that DouYu and HUYA have business cooperation but have no plans to merge, and that the rumours are untrue.

In late November, DouYu CEO Shaojie Chen, 39, was arrested on suspicion of opening a casino, according to Chengdu police.

DouYu then set up an interim management committee consisting of three company executives to manage the company's operations.