Tencent May Increase Stake In UMG By 10%

According to reports in foreign media, Tencent plans to increase its stake in Universal Music Group by 10% before its option expires in January.

At present, the review is still in progress, and it is not clear whether the original consortium members will participate.

At the end of March 2020, a consortium led by Tencent completed the acquisition of a 10% stake in Universal Music Group. The transaction valued Universal Music Group at EUR30 billion.

As part of the transaction, Tencent Music Entertainment Group and Universal Music Group reached another agreement, in which Tencent Music Entertainment was granted a stock option, allowing it to acquire a minority stake in Universal Music’s Greater China business within two years from the date of completion of the transaction.

Previous Post
Next Post