Consortium Including Tencent Music Entertainment Group Exercises Call Option to Acquire Additional Equity Interests in Universal Music Group
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: PR Newswire
SHENZHEN, China, Dec. 18, 2020 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading innovative online music entertainment platform in China, today announced that a consortium (the "Consortium"), which is led by Tencent Holdings Limited (00700.HK) and comprising the Company (through one of its wholly-owned subsidiaries) and other co-investors, exercised its call option to acquire an additional 10% equity interest (the "Transaction") in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA) ("Vivendi"), at the same enterprise value of EUR30 billion for 100% of UMG's share capital as in the initial acquisition that closed in March 2020. The Transaction is expected to close in the first half of 2021, subject to regulatory approvals. Upon the closing of the Transaction, the Consortium's equity ownership in UMG will increase to 20% and TME will continue to have a 10% equity interest in the Consortium. The T
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News
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- Analysts Are Updating Their Tencent Music Entertainment Group (NYSE:TME) Estimates After Its Full-Year Results [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group Filed 2023 Annual Report on Form 20-FPR Newswire
- Tencent Music Entertainment Group to Report First Quarter 2024 Financial Results on May 13, 2024PR Newswire
TME
Earnings
- 3/19/24 - In-Line
TME
Sec Filings
- 5/6/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/18/24 - Form 20-F
- TME's page on the SEC website