Tencent, Vivendi talks 
2019-08-07
Chinese Internet giant Tencent is in talks with Vivendi’s Universal Music Group, a behemoth in the global music industry to buy a stake, UMG’s French owner said yesterday.
If a deal is confirmed, Shenzhen-based Tencent will take 10 percent in UMG, with an option to pick up another 10 percent. This would translate into an investment of up to 6 billion euros (US$6.7 billion), the Vivendi conglomerate said in a statement. Tencent and Vivendi have started talking about “strategic commercial cooperations” in the music business, the French company said, adding UMG also plans to sell additional minority stakes to other potential partners.
