UPDATE 6-China's Tencent talking to Vivendi about stake in Lady Gaga's label [Reuters (UK)]
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: Reuters
China's Tencent talking to Vivendi about stake in Lady Gaga's label - Reuters 6 Min Read PARIS/BEIJING (Reuters) - China’s Tencent Holdings Ltd ( 0700.HK ) is in talks to buy up to 20% of Universal Music Group (UMG) from Vivendi SA ( VIV.PA ), valuing the music label of Lady Gaga, Ariana Grande and the Beatles at around 30 billion euros ($34 billion), as both firms look to expand in a recovering global music market. While at a preliminary stage, the discussions highlight Tencent’s role as gatekeeper to China’s growing but tightly controlled music market and its interest in global expansion. It also highlights Universal’s ambition in new markets and embrace of online streaming. Global music-streaming retail sales are expected to more than double to $45.3 billion by 2026 from $19.6 billion in 2018, UK-based media analysis firm Midea predicts. French media group Vivendi, controlled by billionaire Vincent Bollore, said on Tuesday that Tencent would first buy 10% of Universal, the worl
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