News - 02/12/2017

Report: Tencent and Spotify are in talks to acquire 10% of each other

Report: Tencent and Spotify are in talks to acquire 10% of each other

According to a report published by the "Wall Street Journal", Spotify and Chinese giant Tencent are in talks to to acquire 10% of each other, ahead of both parties floating on the stock market next year.

A huge plus coming from the deal is that both companies could align, during licensing negotiations with major music labels and publishers.

According to the report, the agreement will be structured with Tencent paying Spotify a lump sum to balance the books: Daniel Ek’s company has a higher current valuation than the Tencent Music Entertainment Group.

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