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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Vivendi (PK) | USOTC:VIVEF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.046 | -0.42% | 10.90 | 10.63 | 11.17 | 10.90 | 10.90 | 10.90 | 284 | 21:23:35 |
From May 2021 to May 2024
By Anne Steele
Vivendi SE on Sunday reached an agreement for a 10% investment in Universal Music Group by William Ackman's Pershing Square Tontine Holdings, valuing the world's largest music company at about $40 billion.
In an email to UMG employees, CEO Lucian Grainge called the investment a "strong validation." The deal--previously reported on by the Wall Street Journal--follows a 20% stake investment by Chinese internet giant Tencent and comes days before Vivendi shareholders will vote on the potential listing of 60% of UMG shares on the Euronext Amsterdam stock exchange.
"The fact that we now have, in addition to Vivendi, two committed investors--the consortium led by Tencent, as well as PSTH--is as powerful an endorsement as one could imagine from the investment and technology communities," said Mr. Grainge.
Write to Anne Steele at anne.steele@wsj.com
(END) Dow Jones Newswires
June 20, 2021 19:59 ET (23:59 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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