Vivendi in talks to sell up to 20% of Universal Music Group to Tencent

Vivendi in talks to sell up to 20% of Universal Music Group to Tencent

REUTERS/Aly Song

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.