Tony Webster
Vivendi said that it is considering a public offering for UMG as early as the end of this year.
In addition, the company said it plans to distribute 60 percent of UMG's capital to its investors. These plans will be considered by the extraordinary meeting of Vivendi's shareholders at the end of March.
The intention of Vivendi to hold an IPO of the record label was previously reported, but then it was talked about 2023. The cost of the entire UMG is estimated at €30 billion. According to Reuters, these plans reflect the desire of Vivendi's largest shareholder, French billionaire Vincent Bolloré, to capitalize on the rise of the music industry in recent years.
The value of record companies has been rising in recent years, making selling a stake in them attractive to shareholders. Last year, another major record label, Warner Music, held a $1.9 billion IPO.
source: reuters.com
In addition, the company said it plans to distribute 60 percent of UMG's capital to its investors. These plans will be considered by the extraordinary meeting of Vivendi's shareholders at the end of March.
The intention of Vivendi to hold an IPO of the record label was previously reported, but then it was talked about 2023. The cost of the entire UMG is estimated at €30 billion. According to Reuters, these plans reflect the desire of Vivendi's largest shareholder, French billionaire Vincent Bolloré, to capitalize on the rise of the music industry in recent years.
The value of record companies has been rising in recent years, making selling a stake in them attractive to shareholders. Last year, another major record label, Warner Music, held a $1.9 billion IPO.
source: reuters.com