A consortium led by China’s Tencent has exercised an option to purchase a further 10% of Vivendi’s Universal Music Group. The deal values the company at €30BN.Closing and payment will take place during the first semester of 2021, subject to regulatory approvals.The consortium previously bought 10% of UMG in March this year, with that deal containing a provision for a further 10%.Vivendi said the deal would allow it to further develop activities in Asia.
It added that it was pursuing a plan to sell additional minority interests in UMG, while a listing in planned in 2022. The company will use the cash generated to reduce its debt and to finance share buybacks and acquisitions.Launch dates for broadcast, cable and streaming programsUp-to-date
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.