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Tencent Music sued by investor ahead of $1.2 bn US IPO
short by Sukriti Kapoor / on Monday, 10 December, 2018
China’s Tencent Music Entertainment has been sued by Chinese investor Hanwei Guo ahead of its $1.2 billion US initial public offering. Guo claims that Tencent Music Co-president Guomin Xie used misinformation, threats and intimidation to compel him to sell his $26-million equity stakes in Ocean Music, which eventually merged with Tencent Music. Guo had invested in Ocean Music in 2012.
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