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Asia Entertainment

Investor Group Led by Tencent to Buy 10% of Universal Music

An investor group led by Chinese internet giant Tencent Holdings will buy a 10% stake in Universal Music for nearly $3.4 billion, the companies said in a statement. The deal, which is subject to regulatory approvals, would value Universal Music at 30 billion euros ($33.7 billion) and is expected to close in the first half of 2020, the statement said. The investor group also has the option to buy...

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