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Tencent Reportedly In Talks To Invest $200 Mln In Warner Music

Chinese Internet services provider Tencent Holdings Ltd. (TCEHY.PK) is in talks to invest $200 million in Warner Music Group, ahead of IPO that is slated for next week, the Wall Street Journal reported, citing people familiar with the matter.

Warner Music is also lining up other potential partners that, along with Tencent, would serve as anchor investors contributing in excess of $1 billion toward a fundraising goal of as much as $1.8 billion, the report stated. The offering is expected to value Warner Music at $11.7 billion to $13.3 billion and is set to begin trading June 3.

Tencent was not immediately available for comment, while Warner Music declined to comment.

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