Tencent completes acquisition of further 10% in UMG; IPO could come this year

As previously announced, the Tencent consortium has acquired the shares in UMG for €3 billion based on a €30 billion enterprise valuation of the music company. The acquisition takes the Tencent consortium’s holding in UMG from 10% to 20%, and reduces UMG parent Vivendi’s ownership stake in the music firm to 80%.

Source: Universal Music Group IPO coming ‘early 2022 at the latest’; Tencent completes acquisition of further 10% in UMG