Tencent is in talks to acquire a 10 per cent stake in Universal Music Group, the label behind artistes such as Lady Gaga, from French conglomerate Vivendi for US$3.36 billion. Photo: AP
Is now a good time to buy Tencent stock? Momentum in online gaming, advertising would suggest so
- The company’s stock has turned a corner this year and was up almost 8 per cent at the close on Friday
- Analysts set average 12-month target price of HK$430.3, 27 per cent up from Friday’s close
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Tencent
Tencent is in talks to acquire a 10 per cent stake in Universal Music Group, the label behind artistes such as Lady Gaga, from French conglomerate Vivendi for US$3.36 billion. Photo: AP