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Vivendi considers selling further 10% of shares in its UMG music arm

Vivendi considers selling further 10% of shares in its UMG music arm
Vivendi considers selling further 10% of shares in its UMG music arm   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
By Reuters

PARIS (Reuters) – French media conglomerate Vivendi said on Tuesday it could sell a further 10% of shares in its Universal Music Group (UMG) arm, the label behind artists such as Lady Gaga and Taylor Swift which Vivendi is planning to list on the stock market.

“Prior to the distribution of 60% of the UMG shares to Vivendi shareholders, the group is analyzing the opportunity of selling 10% of UMG shares to an American investor or initiating a public offering of at least 5% and up to 10% of UMG shares,” Vivendi said in a statement.

(Reporting by Sudip Kar-Gupta; Editing by Christopher Cushing)