Investor accuses Tencent Music executive of fraud

The online-music arm of Tencent Holdings Ltd, China

HONG KONG: A Chinese investor accused the co-president of Tencent Music Entertainment Group, which could fetch as much as US$1.23bil 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 Wednesday in a US lawsuit seeking documents from four underwriters of Tencent Music’s initial public offering.