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Tencent Music will reportedly postpone IPO due to global market sell-off

Christine Wang

Tencent Music Entertainment Group will postpone its highly anticipated initial public offering because of the recent sell-off, The Wall Street Journal reported Thursday citing people familiar with the deal.

The music arm of Chinese tech giant Tencent 700-HK owns the four largest music apps in China and counts industry competitor Spotify SPOT as a backer.

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