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Weekly Roundups

Tech Companies Not Infected Despite COVID-19 Outbreak

By MBN Staff | Fri, 04/03/2020 - 13:47

News on COVID-19 will not stop in the near future but tech companies know that life goes on and deals keep on coming. On Tuesday, Vivendi closed the sale of a 10 percent stake in Universal Music Group (UMG) to a Tencent-led consortium in a deal that valued UMG at US$33 billion. 

Following its footsteps, Japan Display said it has finalized a deal to raise US$200 million from “an overseas customer,” which sources have said is Apple. “The US$200 fund will come in the form of the customer purchasing equipment at Japan Display’s main smartphone screen factory in central Japan,” the company said in a statement.

Within sight is also Alibaba Group, which plans to buy at least 10 percent of Yunda Holding, marking the e-commerce giant’s fifth investment in a large courier, reported Reuters. At the current market price, the stake would be worth at least US$790 million.

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