Chinese take a stake in Universal
China's Tencent has reached an agreement with France's Vivendi for a ten percent stake in Universal Music, with an option for a further ten percent.
According to international media reports, the Universal Music Group is valued at around 30 billion euros. The agreement is also expected to include further strategic cooperations. Universal Music also owns Deutsche Grammophon.
Tencent, the eighth most valuable brand in the world, operates the music streaming service Tencent Music in China, in which Spotify also has a stake. The French group Vivendi, which is to be split up, wants to sell up to 50 percent of its stake in Universal Music.
Photo: Wishva de Silva / wikimedia commons CC 4.0
