May 26, 2024

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Vivendi shares soar on Universal Music float plan

“Vivendi’s primary institutional shareholders have been pressing for a number of many years for a break up or the distribution of Common Audio Team,” it reported.

A listing stock market place presence could give Common a lot more monetary clout to compete with rivals Warner Audio and Sony Audio. It may perhaps also slim the price cut that some investors think is utilized to Vivendi shares due to its holding structure.

“The entire transaction is aimed at liberating up the concealed price of Vivendi, whose market place price has been inferior to that of Universal’s itself these days,” a resource close the make any difference reported.

The firm’s other belongings assortment from motion pictures and Television generation to publishing and promotion.

“In 2022, Vivendi need to be refocused on all its other key units (mainly Groupe Canal+, Editis and Havas) alongside its minority holdings including UMG as properly as Lagardere, Prisa and Spotify,” reported Paris brokerage OddoBHF.

In December, Common amazed the sector by buying the rights to Bob Dylan’s whole again catalogue in a offer reportedly value a lot more than $300m (£216m).