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Tencent Music Entertainment Group (TME) announced plans to acquire Ximalaya Inc., a major online audio platform in China, in a strategic expansion beyond its music streaming business. The merger deal, dated for June 10, 2025, will upend Ximalaya as a wholly owned subsidiary, pending regulatory approvals.
The acquisition involves a payout of approximately $1.26 billion in cash to Ximalaya stakeholders and includes the issuance of Class A shares, amounting to up to 5.1986% of Tencent Music’s outstanding shares. An additional allocation of up to 0.37% of shares is also designated for Ximalaya’s founder shareholders.
As of Tuesday, October 10, 2023, Tencent Music shares are trading lower by 0.81%, currently priced at $18.37.
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