China’s Tencent talking to Vivendi about stake in Lady Gaga’s label
By Mathieu Rosemain, Sudip Kar-Gupta and Pei Li PARIS/BEIJING (Reuters) - China's Tencent Holdings Ltd is in talks to buy up to 20% of Universal Music Group (UMG) from Vivendi SA , valuing the music label of Lady Gaga, Ariana Grande and the Beatles at around 30 billion euros ($34 billion), as both firms look to expand in a recovering global music market. While at a preliminary stage, the discussions highlight Tencent's role as gatekeeper to China's growing but tightly controlled music market and its interest in global expansion. It also highlights Universal's ambition in new markets and embrace of online streaming
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