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​Tencent-Universal deal won't 'escape regulatory scrutiny,' Impala says

( November 26, 2019, 12:35 GMT | Official Statement) -- MLex Summary: Tencent’s plan to buy at least a 10 percent stake in Universal Music Group has drawn criticism from Impala, an association of independent music companies, which said the deal risks harming competitors and consumers. Universal is the world's biggest music company, while the Chinese conglomerate owns four of the five leading music apps and controls 90 percent of China's growing digital music retail market, Impala said. The group also voiced concerns about who might buy additional Universal shares up for sale, saying “this type of creeping influence will not escape regulatory scrutiny.”Statement follows....

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