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Vivendi first-quarter sales jump; makes progress on UMG stake sale

Vivendi first-quarter sales jump; makes progress on UMG stake sale
The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, March 10, 2016. REUTERS/Charles Platiau   -   Copyright  Charles Platiau(Reuters)
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PARIS (Reuters) – French media conglomerate Vivendi posted higher first-quarter revenue on Monday, and said it was making progress on the planned sale of up to 50 percent of its UMG music arm.

First-quarter sales rose 10.7 percent from last year to 3.46 billion euros (£3 billion), helped by growth at UMG and by its recent acquisition of the Editis publishing business.

(Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips)

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