Music streaming giants Spotify, Tencent invest in each other
STOCKHOLM (AP) " Swedish music streaming service Spotify and Chinese internet company Tencent have struck a deal to take minority stakes in each other.The companies said Friday they will acquire new shares representing minority equity stakes in each other for cash " Tencent Music Entertainment will invest in Spotify, while the Swedish music startup will take a stake in Tencent's music wing. Terms of the deal were not disclosed.Spotify CEO Daniel Ek said the "transaction will [...]
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