Vivendi: returns to shareholders ahead with UMG
(CercleFinance.com) - In Le Figaro today, Vivendi's boss discussed Universal Music Group (UMG), a musical subsidiary that is particularly focused on streaming, whose capital Vivendi intends to open.
It is still a question of returning part of the revenues of this deal to group shareholders.
When we opened a new Vivendi chapter in 2014, Universal Music was worth around 7 billion dollars. Today, it is worth significantly more, Vivendi group's chairman Arnaud de Puyfontaine said in an interview. Note that Vivendi has a current market capitalisation of 29 billion euros.
As announced, we have opened a process to find one or more partners to crystallise this value and support this transformation. The funds raised would be used for share repurchases and potential acquisitions, Mr. de Puyfontaine added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
It is still a question of returning part of the revenues of this deal to group shareholders.
When we opened a new Vivendi chapter in 2014, Universal Music was worth around 7 billion dollars. Today, it is worth significantly more, Vivendi group's chairman Arnaud de Puyfontaine said in an interview. Note that Vivendi has a current market capitalisation of 29 billion euros.
As announced, we have opened a process to find one or more partners to crystallise this value and support this transformation. The funds raised would be used for share repurchases and potential acquisitions, Mr. de Puyfontaine added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.