0339 GMT - Tencent Music Entertainment's plan to acquire Chinese podcast startup Ximalaya could help TME access an under-penetrated user demographic, Barclays analysts say in a research note. As online audiobook user base is skewed towards the older and wealthier population and TME's core online music user base is mostly young users, the deal could give it access to this under-penetrated market, they say. For Ximalaya, it has tried several times to list publicly, either in Hong Kong or the U.S., but this never came to fruition. However, the deal, worth around $2.7 billion, represents a "fair price" and not an "amazing price" for TME, they say. TME's ADR prices last closed at US$18.34. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
June 10, 2025 23:39 ET (03:39 GMT)
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