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Tencent-led consortium to acquire additional 10% stake in Universal Music from Vivendi

Friday 18 December 2020 | 11:04 CET | News
The Tencent-led consortium that acquired 10 percent of Universal Music's share capital in April is set to increase its stake in the Vivendi subsidiary to 20 percent. Closing and payment of the transaction will take place during the first semester of 2021, subject to regulatory approvals. Vivendi said that the cash generated may be used to reduce its financial debt and finance share buyback and acquisition projects.

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Categories: Internet
Companies: Tencent / Universal Music / Vivendi
Countries: World
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