Spotify rival Deezer said near deal to go public through a SPAC
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French music streaming service Deezer is said close to a deal to go public through a deal with the family behind Gucci-owner Kering SA (OTCPK:PPRUF).
Spotify (SPOT) and Apple (AAPL) music competitor Deezer, which has 16 million active users, is in discussions to go public through a deal with Paris-based 12PO SA, according to a WSJ report, which cited people familiar. The valuation of the deal wasn't known.

12PO is backed by France's Pinault family, the controlling holder of Kering, as well as Center Partners banker Matthieu Pigasse.
Recall July 2016, Deezer entered crowded U.S. music market.
Also see from Tuesday, Spotify podcast architect Holt to leave company - reports.