Jem Aswad Senior Music EditorVivendi, owner of the world’s largest music company, Universal Music Group, told investors on Tuesday that it is considering selling an additional 10% stake in the company to an unnamed U.S.
investor. Vivendi, which has already sold 20% of UMG to Chinese giant Tencent, is expected to sell off 60% of UMG in an IPO by the end of September.It had been expected to retain its full 20%, but apparently is considering whether the market is hot enough to cash in now.“The group is analyzing the opportunity of selling 10 percent of UMG shares to an American investor or initiating a public offering (IPO) of at least 5 percent and up to 10 percent of UMG shares,” Vivendi said Tuesday in an update to investors. “Furthermore,.
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