Chinese group Tencent rises to 20% stake in Universal Music
The Chinese group Tencent rose to 20% of the capital of Universal Music.
© AP - Mark Schiefelbein
Text by: RFI Follow
2 min
The Chinese group Tencent still rises in the capital of Universal Music.
The Asian giant of new technologies will double its participation in the nugget of Vivendi which holds a prestigious musical repertoire such as the titles of the Beatles, the Rolling Stones and Rihanna.
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Already married since 2019,
Tencent and Universal Music Group are strengthening their ties a little more
.
It's been a year since the consortium led by Chinese new technology giant Tencent came to meet the French musical nugget.
Universal Music Group then sold 10% of its capital to this team led by Tencent.
Now, the Chinese is doubling its stake to 20%, which in total would cost him three billion euros according to a press release from Universal's parent company, Vivendi.
A large musical repertoire
Vivendi, whose musical repertoire is stronger than ever.
Beatles, Rolling Stones, Bee Gees, Andrea Bocelli rub shoulders with Rihanna, Justin Bieber, Lady Gaga and recently Bob Dylan whose purchase of songs estimated at $ 300 million is a record.
Vivendi wants to further expand its hold over the press, especially in France under the leadership of
boss Vincent Bolloré
, but also to launch its musical nugget on the stock market in the United States in 2022.
As a springboard, Universal Music has already mandated American banks to find minority shareholders for its major based in California.
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