Chinese internet giant Tencent is negotiating to buy 10% of Universal Music, one of the world’s largest music labels, from Vivendi
ByChinese internet giant Tencent Holdings Ltd. is negotiating to buy 10% of Universal Music Group, one of the world’s largest music labels, from Vivendi SA—a deal that would value the stake at €3 billion .
Under the terms of the deal, Vivendi said Tuesday that Tencent would have a one-year option to acquire an additional 10% stake in the music business at the same terms.
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