Tencent, KKR consider Universal Music bids - Reuters

|About: Tencent Music Entertainment... (TME)|By:, SA News Editor

Tencent Music (NYSE:TME) and KKR are considering bids for stakes in Vivendi's (OTCPK:VIVHY) Universal Music, according to Reuters sources.

The rival bids for up to half of UMG could represent a deal worth $22.73B.

Vincent Bollore controls 25% of Vivendi and is reportedly selecting banks for a partial UMG sale. The banks could be appointed next month with the sale process kicking off in Q2.

Post updated to correct Tencent's ticker.

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