Pandaily’s Digest #20210201
Tencent Music Acquires Additional Equity Interests in Universal Music Group, Embezzlements Disclosed in Three HNA-linked Firms, Xiaomi Sues US Government , Tesla Apologizes
Tencent Music Entertainment Group Acquires Additional Equity Interests in Universal Music Group
Tencent Music Entertainment Group has led a consortium along with the firm’s wholly-owned subsidiary to acquire an additional 10% equity stake in Universal Music Group.
Embezzlements of $10B Disclosed in Three HNA-linked Firms as Group Faces Bankruptcy
Three listed companies of HNA Group disclosed that a total of 61.5 billion yuan ($9.57 billion) had been embezzled by shareholders and other related parties.
Xiaomi Sues US Government for Trump’s Investment Ban
On Jan. 31, Chinese smartphone maker Xiaomi announced to have sued the U.S. Department of Defense and the U.S. Treasury Department in hopes to reverse the executive order that bars American capital in the company.
Tesla Apologizes For Blaming Charging Failure on China’s State Grid
Tesla apologized on Monday for asserting blame on the State Grid following a charging incident with one of its vehicles in east China.
China VC Weekly: $7M for Nothing, K12 EdTech Financing and More
OnePlus co-founder Carl Pei on Jan. 27 announced the establishment of his London-based new consumer technology startup Nothing, which obtained $7 million in fresh capital last December.
