UPDATE 2-Vivendi in talks to sell 10% of Universal Music Group to Tencent [Reuters (UK)]
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: Reuters
Vivendi in talks to sell 10% of Universal Music Group to Tencent - Reuters 3 Min Read PARIS (Reuters) - Vivendi ( VIV.PA ) is in talks to sell a 10% stake in its prized and lucrative Universal Music Group (UMG) to Chinese tech company Tencent ( 0700.HK ) as it seeks to expand its presence in Asia. UMG is the world’s biggest music label ahead of Sony Music Entertainment and Warner Music, and is home to artists such as Lady Gaga, Taylor Swift, Drake and Kendrick Lamar. The French media conglomerate said on Tuesday that the deal would give UMG a preliminary equity valuation of 30 billion euros ($33.6 billion) - better than some had forecast - and that Tencent had an option to buy a further 10% of UMG. Vivendi shares surged 7% as analysts welcomed the progress made on the sale of a stake in UMG and the valuation. A deal with Tencent would boost UMG’s presence in the tightly controlled Chinese market and fit well with the Chinese company’s Tencent Music Entertainment ( TME.N ) unit.
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News
- Tencent Music Entertainment Group Filed 2023 Annual Report on Form 20-FPR Newswire
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- Returns On Capital Are Showing Encouraging Signs At Tencent Music Entertainment Group (NYSE:TME) [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group (NYSE:TME) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group Full Year 2023 Earnings: EPS Beats Expectations [Yahoo! Finance]Yahoo! Finance
TME
Earnings
- 3/19/24 - In-Line
TME
Sec Filings
- 4/18/24 - Form 6-K
- 4/18/24 - Form 20-F
- 4/15/24 - Form 6-K
- TME's page on the SEC website