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Vivendi Enters Into Preliminary Negotiations With Tencent

Aug 06, 2019 - Business Wire
Mergers and Acquisitions

Regulatory News:

Vivendi (Paris:VIV) announces that it has entered into preliminary negotiations with Tencent Holdings Limited (« Tencent ») for a strategic investment totaling 10% of the share capital of Universal Music Group (UMG) at a preliminary equity valuation of (EURO)30 billion for 100% of UMG on a fully-diluted basis. In addition, Tencent would have a one-year call option to acquire an additional 10% at the same price and terms.

Vivendi and Tencent are also concurrently co...