Tencent in talks to buy stake in Universal Music, label behind Lady Gaga, Ariana Grande, Bruce Springsteen

French media conglomerate Vivendi said on Tuesday Chinese technology giant Tencent Holdings was in preliminary talks to buy a 10 per cent stake in Universal Music Group (UMG), which counts Lady Gaga, Lana Del Rey and Taylor Swift among its artists.The transaction, if completed, would value the music label at €30 billion (US$33.6 billion). Tencent would have a one-year call option to acquire an additional 10 per cent of the business at the same price and terms, Vivendi said.It comes just over a…

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