--KKR & Co., Inc. (KKR) or Tencent Music Entertainment Group (TME) might make bids for a stake in Universal Music, Reuters reports Wednesday, citing "sources."

--The two companies may bid for up to half of Universal Music, which is owned by France's Vivendi SA (VIVEF), the report said.

--Vincent Bollore, who owns 25% of Vivendi, has been in negotiations with bankers to assist in the sale of a partial stake of Universal Music, the report said.

--A deal for part of Universal Music could reach as high as $22.7 billion, the report said.

 

Full story: https://www.reuters.com/article/us-vivendi-universal-music-m-a-exclusive/exclusive-kkr-chinas-tencent-eyeing-bids-for-universal-music-sources-idUSKCN1QG2R0

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

February 27, 2019 18:42 ET (23:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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