Tencent-led consortium hikes stake in Universal Music Group to 20%

Tencent-led consortium hikes stake in Universal Music Group to 20%

REUTERS/Arnd Wiegmann

Vivendi said a Tencent-led consortium would buy an additional 10% stake in Universal Music Group (UMG), home to The Beatles, in a deal valuing the label at 30 billion euros ($37 billion).

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