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Tencent, Spotify in talks to swap stakes of up to 10% ahead of IPOs - report

Friday 1 December 2017 | 14:17 CET | News
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Chinese internet group giant Tencent and Sweden's Spotify are in talks to buy stakes of up to 10 percent in each other's businesses ahead of their expected initial public offerings next year, the Wall Street Journal reported, citing sources familiar with the matter. The transaction would align the two services in future licensing negotiations with the major music labels and boost returns from the public listings, which are expected to value both in the billions of dollars, the sources said. Spotify has a higher valuation than Tencent Music Entertainment Group, which means Tencent would pay

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Categories: Internet
Companies: Spotify / Tencent
Countries: World
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