Vivendi: opening of UMG's capital on track
(CercleFinance.com) - Alongside the publication of its quarterly sales figures, yesterday, Vivendi provided an overview of the opening of the capital of its music streaming "gem subsidiary," Universal Music Group (UMG).
Having reported dynamic organic growth of 9.1% over the first nine months (and even 13.5% in Q3 alone), UMG represents nearly 42% of the group's sales.
The process is now underway, with some fifteen banks having been shortlisted. They could support Vivendi to identify one or more strategic partners for UMG, said the media conglomerate of which Bolloré group is the largest shareholder.
After "working sessions" that will be organised "by the end of autumn," Vivendi intends to reduce the number of candidates to between five and seven banks, which it says will be responsible for finding the best partners for UMG.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Having reported dynamic organic growth of 9.1% over the first nine months (and even 13.5% in Q3 alone), UMG represents nearly 42% of the group's sales.
The process is now underway, with some fifteen banks having been shortlisted. They could support Vivendi to identify one or more strategic partners for UMG, said the media conglomerate of which Bolloré group is the largest shareholder.
After "working sessions" that will be organised "by the end of autumn," Vivendi intends to reduce the number of candidates to between five and seven banks, which it says will be responsible for finding the best partners for UMG.
Copyright (c) 2018 CercleFinance.com. All rights reserved.