Caixin
Dec 09, 2017 05:55 PM
BUSINESS & TECH

Tencent Music, Spotify to Swap Minority Stakes

Photo: Visual China
Photo: Visual China

Social networking giant Tencent Holdings Ltd. will buy a minority stake in Spotify, one of the world's top music streaming platforms, extending its string of major overseas investments in companies with strategic technologies.

Tencent will make the investment both directly and through its music arm, Tencent Music Entertainment Group, the two companies announced on Friday. Sweden-based Spotify will also buy new shares representing an unspecified minority interest in Tencent Music.

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