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Deals Rumor Mill: Tencent, Nets, Daewoo E&C

By Benjamin Horney (September 1, 2017, 3:55 PM EDT) -- Tencent Music Entertainment, which operates streaming music services à la Spotify and Pandora, is hoping to raise a round of preinitial public offering funding valuing it at $10 billion, according to a Friday report from Bloomberg. According to the report, the company intends to sell about 3 percent of its shares to strategic partners, including record labels. Tencent Holdings Ltd. owned about 62.45 percent of TME as of the end of last year, the report noted. No timetable was disclosed....

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