Tencent plans to exercise its option to lift its stake in Vivendi’s Universal Music, in a move to diversify from gaming and China

//Tencent plans to exercise its option to lift its stake in Vivendi’s Universal Music, in a move to diversify from gaming and China

Tencent plans to exercise its option to lift its stake in Vivendi’s Universal Music, in a move to diversify from gaming and China

Tencent Holdings is planning to increase its stake in Universal Music Group by a further 10 per cent before the option expires in January, according to people familiar with the matter.The Chinese technology company last year led a consortium that bought 10 per cent of the world’s biggest music company from French media company Vivendi. That deal valued Universal Music at €30 billion (US$35.2 billion) and Tencent and its partners have the option to increase their stake to as much as 20 per cent…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-10-14T03:07:12+00:00 October 14th, 2020|Technology|Comments Off on Tencent plans to exercise its option to lift its stake in Vivendi’s Universal Music, in a move to diversify from gaming and China