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Music streaming giants Spotify, Tencent invest in each other

STOCKHOLM (AP) — Swedish music streaming service Spotify and Chinese internet company Tencent have struck a deal to take minority stakes in each other. The companies said Friday in a joint statement they will acquire new shares representing minority equity stakes in each other for cash — Tencent Music Entertainment will invest in Spotify, while the Swedish music startup will take a stake in Tencent's music wing.
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Music streaming giants Spotify, Tencent invest in each other

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Swedish music streaming service Spotify and Chinese internet company Tencent have struck a deal to take minority stakes in each other.

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