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Tencent Plans to Lift Stake in Vivendi’s Universal Music

  • Tencent-led group bought 10% last year of Vivendi’s UMG
  • Company diversifying into music from games and Chinese market
Updated on

Tencent Holdings Ltd. is planning to increase its stake in Universal Music Group by a further 10% before the option expires in January, according to people familiar with the matter.

The Chinese technology company last year led a consortium that purchased 10% of the world’s biggest music company from French media company Vivendi SA. That deal valued Universal Music at 30 billion euros ($35.2 billion) and Tencent and its partners have the option to increase their stake to as much as 20% at the same valuation until Jan. 15, 2021.