Owner Vivendi to offload 10% stake worth €3bn with more deals likely to cash in on
music revival
![Universal Music sells stake to Chinese giant Tencent](https://i.guim.co.uk/img/media/7fa25318001af8a223449dffb9345e4de67b4df4/0_107_3500_2100/master/3500.jpg?width=1200&height=630&quality=85&auto=format&fit=crop&overlay-align=bottom%2Cleft&overlay-width=100p&overlay-base64=L2ltZy9zdGF0aWMvb3ZlcmxheXMvdGctZGVmYXVsdC5wbmc&enable=upscale&s=2cec741ba936f0c9d40fa89fdb27c6e8)
Universal Music Group, the home of stars including
Taylor Swift,
Lady Gaga and The Beatles, has sold a 10% stake to a consortium led by Chinese tech giant Tencent in a deal valuing the world’s largest music company at €30bn (€25bn).
UMG’s parent company, Vivendi, which is controlled by the French billionaire Vincent Bolloré, has also agreed that the Tencent-led consortium has the option to buy another stake of up to 10% at the same price by 15 January 2021.