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Spotify Gets Investment as it Faces Competition From Apple

Music streaming company Spotify said Wednesday it has gotten a new investment from a Nordic telecoms company as it looks to compete globally, particularly with a rival service that Apple is due to launch this month. Swedish operator TeliaSonera is paying $115 million for a 1.4 percent stake, which would value Spotify at about $8.2 billion. Based in Stockholm, Sweden, Spotify offers free streaming music and a premium service for a monthly fee that lets users listen to music...

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