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2021-02-15

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Vivendi plans to distribute 60% of UMG capital to shareholders, list it by year-end

By Dominique Vidalon PARIS, Feb 13 (Reuters) - Vivendi said on Saturday it planned to distribut

Vivendi plans to distribute 60% of UMG capital to shareholders, list it by year-end

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVivendi plans to distribute 60% of UMG capital to shareholders, list it by year-end\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-13 19:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>By Dominique Vidalon</p><p>   PARIS, Feb 13 (Reuters) - Vivendi    said on Saturday it planned to distribute 60% of Universal Music's capital to investors, subject to shareholder approval, and aimed to list its most-prized asset, home to singers such as Lady Gaga and Taylor Swift, by the end of the year. </p><p>   The plan to list Universal represents part of a process launched by Vivendi's top shareholder French billionaire Vincent Bollore to cash in on the music industry's revival.  </p><p>   \"Vivendi’s leading institutional shareholders have been pressing for a number of years for a split or the distribution of Universal Music Group <a href=\"https://laohu8.com/S/UMG.AU\">$(UMG.AU)$</a> to reduce Vivendi’s conglomerate discount,\" Vivendi said in a statement.</p><p>   The French conglomerate said the distribution would take the form of a special dividend.</p><p>    UMG, a holding company currently being incorporated in the Netherlands, will apply for a listing on Euronext in Amsterdam.</p><p>   The transaction has received a favorable response from the  consortium led by China's tech group Tencent   , which now controls 20% of UMG, having bought the stake in two successive waves that valued UMG at 30 billion euros ($36.35 billion), Vivendi said.  </p><p>   Vivendi said it would hold an extraordinary shareholders meeting on March 29 to modify the company's by-laws and make the distribution possible.</p><p>   In addition, Vivendi will propose to distribute a 0.60 euros per share dividend for its 2020 fiscal year at a shareholders meeting scheduled for June 22.    </p><p>($1 = 0.8252 euros)</p><p> (Reporting by Dominique Vidalon. Editing by Jane Merriman)</p><p>((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters Messaging: dominique.vidalon.reuters.com@reuters.net))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TCEHY":"腾讯控股ADR","TME":"腾讯音乐","00700":"腾讯控股","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2111722630","content_text":"By Dominique Vidalon   PARIS, Feb 13 (Reuters) - Vivendi    said on Saturday it planned to distribute 60% of Universal Music's capital to investors, subject to shareholder approval, and aimed to list its most-prized asset, home to singers such as Lady Gaga and Taylor Swift, by the end of the year.    The plan to list Universal represents part of a process launched by Vivendi's top shareholder French billionaire Vincent Bollore to cash in on the music industry's revival.     \"Vivendi’s leading institutional shareholders have been pressing for a number of years for a split or the distribution of Universal Music Group $(UMG.AU)$ to reduce Vivendi’s conglomerate discount,\" Vivendi said in a statement.   The French conglomerate said the distribution would take the form of a special dividend.    UMG, a holding company currently being incorporated in the Netherlands, will apply for a listing on Euronext in Amsterdam.   The transaction has received a favorable response from the  consortium led by China's tech group Tencent   , which now controls 20% of UMG, having bought the stake in two successive waves that valued UMG at 30 billion euros ($36.35 billion), Vivendi said.     Vivendi said it would hold an extraordinary shareholders meeting on March 29 to modify the company's by-laws and make the distribution possible.   In addition, Vivendi will propose to distribute a 0.60 euros per share dividend for its 2020 fiscal year at a shareholders meeting scheduled for June 22.    ($1 = 0.8252 euros) (Reporting by Dominique Vidalon. 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