Owner Vivendi to offload 10% stake worth €3bn with more deals likely to cash in on music revival
Universal Music Group, the home of stars including Taylor Swift, Lady Gaga and The Beatles, has sold a 10% stake to a consortium led by Chinese tech giant Tencent in a deal valuing the world’s largest music company at €30bn (€25bn).
UMG’s parent company, Vivendi, which is controlled by the French billionaire Vincent Bolloré, has also agreed that the Tencent-led consortium has the option to buy another stake of up to 10% at the same price by 15 January 2021.
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