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| Name | Symbol | Market | Type |
|---|---|---|---|
| Tencent Holdings Ltd (PK) | USOTC:TCEHY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.37 | 0.85% | 44.12 | 44.05 | 44.10 | 44.39 | 43.65 | 43.8499 | 1,687,389 | 21:00:00 |
From May 2019 to May 2024
By Mauro Orru
Vivendi SA (VIV.FR) said Tuesday that it has signed an agreement to sell a 10% stake in its subsidiary Universal Music Group to a consortium led by Chinese internet-based conglomerate Tencent Holdings Ltd. (0700.HK).
The French media company said the deal was based on an enterprise value of 30 billion euros ($33.59 billion) for 100% of UMG's share capital and the transaction is expected to close by the end of the first half of 2020.
Vivendi said the Tencent-led consortium, which includes Tencent Music Entertainment as well as other "global financial investors," has the option to acquire an extra 10% of UMG's share capital before Jan. 15, 2021.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
December 31, 2019 03:43 ET (08:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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