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Vivendi in talks to sell 10% stake in Universal Music to Tencent

2019-08-06 10:01:00| Telecompaper Headlines

(Telecompaper) Vivendi has entered into preliminary negotiations with Chinese group Tencent to sell 10 percent of Universal Music Group (UMG), in a deal that would give UMG a preliminary equity valuation of EUR 30 billion. Tencent would also have a one-year call option to acquire an additional 10 percent stake at the same price and terms, said the company.

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