Vivendi closes sale of 10% stake in Universal to Tencent-led consortium

Vivendi closes sale of 10% stake in Universal to Tencent-led consortium

Tencent Holding Ltd

Vivendi closed on Tuesday the sale of a 10% stake in Universal Music Group (UMG) – home to Taylor Swift and The Beatles – to a Tencent-led consortium, in a deal giving UMG an enterprise value of 30 billion euros ($33 billion).