FILE PHOTO: The logo of Universal Music Group (UMG) is seen at a building in Zurich, Switzerland July 25, 2016. REUTERS/Arnd Wiegmann/File Photo – RC1EE289B960
Vivendi said the deal would give the whole of UMG a preliminary equity valuation of 30 billion euros ($33.6 billion) and that Tencent would have an option to buy a further 10% stake in UMG.
($1 = 0.8925 euros)
Reporting by Sudip Kar-Gupta; Editing by Kirsten Donovan