A Chinese investor accused the co-president of Tencent Music Entertainment Group, which could fetch as much as U$1.23bil (RM5bil) in an IPO this month, of using lies and threats to get him to sell his stake in a company that eventually became part of China’s largest music-streaming service.
The investor made the claim in an arbitration proceeding in China against the company, co-president Guomin Xie and others, and he repeated it in a US lawsuit seeking documents from four underwriters of Tencent Music’s initial public offering. The online-music arm of Tencent Holdings Ltd, China’s largest social-media company, is planning to list in the US on Dec 12.
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