Paris The French media group Vivendi wants to bring its subsidiary Universal Music Group (UMG) to the stock exchange. The label has the Beatles, Lady Gaga and Rihanna in its catalog. As Vivendi announced on Saturday in Paris, 60 percent of UMG’s capital could be distributed to the Group’s shareholders by the end of the year.
The plan should be presented to an extraordinary general meeting on March 29th. UMG shares could be listed on the Amsterdam Euronext– Exchange to be listed.
Vivendi intends to take over the French magazine division of the Hamburg magazine publisher Gruner + Jahr. The major shareholder in Vivendi is the Bolloré group of the Breton billionaire Vincent Bolloré.
More: Vivendi versus Mediaset: ECJ ruling lets Bolloré triumph over Berlusconi.
Top jobs of the day
Find the best jobs now and
be notified by email.