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Tesco poised to sell Blinkbox Music to Guvera
By Andy Malt | Published on Tuesday 13 January 2015
Tesco is close to signing a deal to sell its Blinkbox Music business to Australian streaming service Guvera, reports the Financial Times.
As previously reported, Blinkbox Movies was sold to TalkTalk last week as part of a deal reportedly worth £5 million, as a flagging Tesco refocuses on its core retail business.
It’s thought that the music side of the Blinkbox company will go for less than that, despite being purchased (when it was still We7) for £12 million in 2012.
Guvera does not currently have a presence in the UK, focussing largely on the Asian market. However, does already work with two British companies. Last year it partnered with 7digital to aid expansion in India and the Middle East, while Omnifone powers with the service worldwide, including the recently reported launch in Russia and Ukraine.
UPDATE 14 Jan 2015, 16.19: Clarification of relationship between Omnifone and Guvera
