Tencent Music said to seek pre-IPO funds from labels

Tencent Music said to seek pre-IPO funds from labels

Visitors use their smartphones underneath the logo of Tencent at the Global Mobile Internet Conference in Beijing May 6, 2014. REUTERS/Kim Kyung-Hoon/File Photo

Tencent Music Entertainment Group, controlled by China’s biggest social network operator, is seeking new funding at a $10 billion valuation ahead of an initial public offering, people familiar with the matter said.

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