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Deals Rumor Mill: Tencent Music, CVC Capital, Volkswagen

By Benjamin Horney (April 30, 2018, 9:03 PM EDT) -- Tencent Music Entertainment Group, which claims to be the largest music streaming company in China, will soon hear pitches from investment banks for a role in its planned multibillion-dollar U.S. initial public offering, Reuters reported on Monday. According to the report, the company has invited investment banks to make their pitches next week. The IPO is expected to raise as much as $4 billion, the report noted, and could value Tencent Music at more than $25 billion. The Wall Street Journal reported in late April that Tencent Music was eyeing a public flotation....

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