Tencent expands global ambitions and buys a stake in the Universal Music Group

The Universal Music Group (UMG) sold 10 percent of the company to Chinese tech giant Tencent in late December, 2019. Thought to be worth in the region of US $3.3 billion, the deal allows Tencent to increase its stake to 20 percent at the same price by January 2021 if it chooses to,  whilst allowing Universal to expand its presence in China, and increasing Tencent’s global ambitions. Vivendi – the…