Spotify and Tencent Music Will Make Financial Investments in Each Other: Here’s Why

Music streaming company Spotify and the music arm of China’s Tencent Holdings will buy minority stakes in each other ahead of the Swedish firm’s expected stock market listing next year, the companies said on Friday.

The deal will help Spotify, a music streaming leader in Europe and North America, and China-focused Tencent Music, to increase exposure to each other’s core markets.

The Wall Street Journal reported last week, citing people familiar with the matter, that the firms were in...

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