NEWS： Tencent led consortium agreed to buy 10% of global music

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Vivendi, a French media group, said Tuesday it had agreed to sell 10% of its UMG stake to a Tencent led consortium, a deal that valued UMG's business at 30 billion euros ($34 billion).
Vivendi added that by January 15, 2021, Tencent led consortia had the option to buy another 10% of UMG shares at the same price.
Vivendi said the agreement would be complemented by another deal in the near future to allow Tencent music entertainment to acquire minority stakes in subsidiaries covering UMG's Greater China operations.


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