Vivendi, which owns UMG, says Tencent would also have an option to acquire an additional 10% stake in the music business. Vivendi's stock soared.
Chinese internet giant Tencent is in talks to buy a 10% stake of Universal Music Group from Vivendi. Vivendi announced the talks, saying the deal would be worth $3.36 billion, and Tencent would have a one-year option to acquire an additional 10% stake. Ariana Grande, Lady Gaga, and Billie Eilish are some of the artists signed to one of the world's biggest music labels. View Markets Insider for more stories.
Chinese internet giant Tencent is in talks to buy a 10% stake of Universal Music Group from Vivendi. Vivendi announced the talks, saying the deal would be worth $3.36 billion, and Tencent would have a one-year option to acquire an additional 10% stake. Ariana Grande, Lady Gaga, and Billie Eilish are some of the artists signed to one of the world's biggest music labels. View Markets Insider for more stories.
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Tencent in Talks to Buy Stake in Universal Music GroupChinese internet giant Tencent is negotiating to buy 10% of Universal Music Group, one of the world’s largest music labels, from Vivendi—a deal that would value the stake at $3.36 billion.
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Vivendi in Talks to Sell 10 Percent Stake in Universal Music Group to China's TencentThe French media giant is looking to sell up to 50 percent of the label that is home to Taylor Swift and Ariana Grande.
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Tencent in Talks to Buy 10% of Universal Music GroupChinese digital giant Tencent has entered negotiations with French media group Vivendi to buy a 10% stake in Universal Music Group. Vivendi announced the talks Tuesday, saying that the negotiations…
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Vivendi in talks to sell 10% of Universal Music Group to TencentVivendi is in talks to sell a 10% stake in its prized and lucrative Universal Mu...
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