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Spotify, Tencent take a piece of each other

2017-12-11 06:25:00| Telecompaper Headlines

(Telecompaper) Spotify and Tencent said they have made equity investments in each other, with the aim of strengthening relationships between the company's music streaming platforms. Under the deal, Spotify and Tencent Music Entertainment Group (TME), a unit of the Chinese internet company, will take an minority stake in each other, for cash. Tencent will also invest in Spotify through secondary purchases. 

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Category:Telecommunications

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