Tencent Music Entertainment Group (TME,1698.HK), on Monday, announced the completion of its acquisition of Ximalaya Inc. pursuant to the merger agreement announced in June 2025.
The transaction included cash of up to $1.26 billion and up to 175.3 million Class A ordinary shares of Tencent Music, including newly issued shares and shares underlying equity-based awards.
Tencent Music said Ximalaya has become a wholly owned subsidiary of the company following the closing of the acquisition.
Tencent Music Entertainment closed trading 1.30% higher at HKD 34.240 on the Hong Kong Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.