Tencent Music, Spotify in talks to swap stakes – WSJ

(Reuters) – The new music group of China’s Tencent Holdings Ltd and Sweden’s Spotify AB are in talks to swap stakes up to 10 per cent in each individual other’s companies ahead of their envisioned public listings up coming yr, the Wall Road Journal claimed on Friday.

FILE Picture: A signal of Tencent is seen throughout the third yearly Entire world Web Meeting in Wuzhen city of Jiaxing, Zhejiang province, China November 16, 2016. REUTERS/Aly Music/File Picture

The deal would align the two solutions in upcoming licensing negotiations with the key new music labels, the WSJ claimed, citing folks acquainted with the make any difference. (on.wsj.com/2kf7uTG)

Sources instructed Reuters in September that Spotify was aiming to file its intention to float with U.S. regulators in get to list in the first fifty percent of 2018.

A Spotify spokeswoman declined to remark, even though Tencent did not promptly react to a request for remark.

Reporting by Bhanu Pratap in Bengaluru Enhancing by Shounak Dasgupta

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