Chinese giant Tencent is in talks to buy a $3.4 billion stake in Ariana Grande's music label Universal Music Group

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Vivendi, which owns UMG, says Tencent would also have an option to acquire an additional 10% stake in the music business. Vivendi's stock soared.

Chinese internet giant Tencent is in talks to buy a 10% stake of Universal Music Group from Vivendi. Vivendi announced the talks, saying the deal would be worth $3.36 billion, and Tencent would have a one-year option to acquire an additional 10% stake. Ariana Grande, Lady Gaga, and Billie Eilish are some of the artists signed to one of the world's biggest music labels. View Markets Insider for more stories.

Chinese internet giant Tencent is in talks to buy a 10% stake of Universal Music Group from Vivendi. Vivendi announced the talks, saying the deal would be worth $3.36 billion, and Tencent would have a one-year option to acquire an additional 10% stake. Ariana Grande, Lady Gaga, and Billie Eilish are some of the artists signed to one of the world's biggest music labels. View Markets Insider for more stories.

 

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