Tencent taps GIC, sovereign funds to rescue Universal Music deal

Tencent taps GIC, sovereign funds to rescue Universal Music deal

Photographer: Qilai Shen/Bloomberg

Tencent Holdings Ltd has turned to Singapore’s state investor GIC and other sovereign funds to help rescue a deal to buy a stake in Vivendi’s Universal Music after major buyout funds quit the negotiating table, sources said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter