Tencent Music, Spotify to Swap Minority Stakes
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.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas