(Bloomberg) --

Vivendi said it will examine listing the shares of Universal Music Group by the end of the year on the regulated market of Euronext NV in Amsterdam, according to statement.

  • Vivendi’s chairman of the management Board set a minimum target of 30 billion euros for UMG’s enterprise value
  • Tencent-led consortium now holds 20% of UMG share capital, as well as interests expressed by other investors at potentially higher prices
  • Management board to consider a distribution of 60% of

    UMG’s share capital to Vivendi shareholders

  • Vivendi extraordinary shareholders’ meeting will be called for March 29 to modify the company’s by-laws and make this distribution possible
  • NOTE: In December, Tencent Group Buys Further 10% of Vivendi’s Universal Music

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