Activist Bluebell Asks Regulator to Probe Vivendi Music Spinoff
Jun 02 2021, 3:26 PM
June 01 2021, 11:01 PM
June 02 2021, 3:26 PM
(Bloomberg) Activist hedge fund Bluebell Capital Partners has called on French market regulator Autorite des Marches Financiers to investigate Vivendi SAâs plans to spin off Universal Music Group, saying the media company hasnât leveled with shareholders over key terms of the deal.
(Bloomberg) Activist hedge fund Bluebell Capital Partners has called on French market regulator Autorite des Marches Financiers to investigate Vivendi SAâs plans to spin off Universal Music Group, saying the media company hasnât leveled with shareholders over key terms of the deal.
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PARIS (Reuters) - An activist investment fund wants French media group Vivendi to sweeten the planned spinoff of Universal Music Group with an extra cash dividend that would be more advantageous to minority shareholders.
Vivendi, controlled by French tycoon Vincent Bollore, is planning to cash in on its crown jewel - the world s biggest music label, which it has valued at 33 billion euros ($40.43 billion) - as streaming revenues fuel growth.
In a transaction involving an Amsterdam listing, Vivendi aims to distribute 60% of Universal s capital in kind to existing shareholders, which will allow Bollore retain a strong grip on the group.
Activist fund Bluebell calls on Vivendi to sweeten Universal spin-off Reuters 2 hrs ago
PARIS, May 25 (Reuters) - An activist investment fund wants French media group Vivendi to sweeten the planned spinoff of Universal Music Group with an extra cash dividend that would be more advantageous to minority shareholders.
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Vivendi, controlled by French tycoon Vincent Bollore, is planning to cash in on its crown jewel - the world s biggest music label, which it has valued at 33 billion euros ($40.43 billion) - as streaming revenues fuel growth.
In a transaction involving an Amsterdam listing, Vivendi aims to distribute 60% of Universal s capital in kind to existing shareholders, which will allow Bollore retain a strong grip on the group.
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