Do Not Sell My Personal Information. The deal promises to deliver Bollore — who owns a 26 percent stake in UMG parent Vivendi — around $7.5 billion, a source close to the French investor said. The Bolloré Group also has important positions in the economies of several former French colonies in Africa (in particular Ivory Coast, Gabon, Cameroon, and Congo). 2,966, This story has been shared 2,845 times. Even with a stock jump of 4.3 percen, Vivendi, which also owns French pay-TV giant Canal+ , has a market value of just $33.4 billion. “Just a lot of patience as he held out for a valuation with a ‘3’ in front of it.”. VINCENT BOLLORÉ. After pulling out of the Mediaset Premium pay-TV deal Vivendi snapped up an almost 30% stake in Mediaset, becoming the company’s second shareholder after the family of former Italian Premier Silvio Berlusconi, founder of the Italian TV conglomerate, which holds a 44% stake in the company through their holding company Fininvest. Terms of Use It was a good investment considering that Tencent’s potential slice of UMG would be worth $3.4 billion. Vivendi’s prime asset is Universal Music Group (UMG), the largest music label in the world, which owns around 30% of the music created in the Western hemisphere. © Copyright 2021 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. “Vincent will have done the deal all by himself — no bankers and no dog and pony show,” this person said. The investment drive is backed by 6 billion euros ($7.3 billion) earned from selling 20% of Universal Music Group, the world’s biggest music company and the company’s biggest asset by far. He owns 24% in the French media company Vivendi. Bolloré isn’t pictured with rappers, or music execs, because he meets with presidents and world leaders. UMG would still have enough equity left over “to keep its door open to other strategic opportunities, whether they’re in tech, or streaming services or other geographies.”. Sitemap Sources close to the talks also said Bollore led the deal in a way that will allow the company to save on hefty bankers fees. Universal Music Group, the home of stars including Taylor Swift, Lady Gaga and the Beatles, has sold a 10% stake to a consortium led by the Chinese … The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. Last month Chinese tech giant Tencent began talks to buy a 10% chunk of Vivendi’s stake in Universal Music, in a deal worth $3.3 billion. UMG was valued around $5 billion just five years ago. On Tuesday, it was reported that Chinese investment firm Tencent Holdings is in talks to buy a 10 percent stake in Universal — the world’s largest music company, which has signed artists like Taylor Swift and Ariana Grande. Post was not sent - check your email addresses! 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Vivendi in a statement on Saturday denied wrongdoing, claiming its current and former executives are “either extraneous to those allegations or have acted in full compliance with the law.” The statement added that Bolloré and De Puyfontaine’s attorneys “have already expressed full willingness to provide the necessary clarifications before the prosecutor’s office takes a decision, being confident that the decision will be the closure of the proceedings without charges.”. Added into the context of a total of… When asked by a shareholder if Vivendi would carry out an IPO for Universal Music Group, chairman Vincent Bolloré said they would "at the right moment." This of course also follows the Tencent-led agreement to acquire 10% of UMG for $3 billion with an option to acquire another 10%. Vivendi, controlled by French billionaire Vincent Bollore, is seeking to cash in on the music industry's revival, driven by a growing subscription and ad-based music streaming services. Finishing 2019 on $6.4 billion, Universal Music is to go to IPO hot on the heels of Warner Music’s announcement to do the same. Vivendi. ... Vivendi is controlled by billionaire Vincent Bolloré. Oscars Predictions: Best Picture – Is ‘Sound of Metal’ Peaking at the Perfect Time? And in 2012, when Bolloro started buying Vivendi, its stock was trading as low as $16 a share. Vivendi chairman Yannick Bolloré has told Bloomberg in a new interview that "everything's fine" regarding the French conglomerate's loose-timelined plan to sell up to 50% of Universal Music … One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. A former consultant calls for the return of Stéphane Guy! Vincent Bolloré, the billionaire who steers the company via his family vehicle, has a record of controversial investments. Bollore and De Puyfontaine had been placed under investigation in Milan in 2017 after Mediaset filed a suit claiming they plotted to drive down the company’s share price by premeditating to dishonor their 2016 deal to buy Mediaset’s Mediaset Premium pay-TV unit, and then allegedly used the devaluation caused by the botched deal to raid Mediaset stock. [8] [9] [10] On 24 April 2018, Bolloré was brought into custody for questioning concerning perceived links between discount rates for political consulting (through Havas ) and port concessions in Lomé , Togo ; and Conakry , Guinea . The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. UMG is considered one of the “Big Three” record labels.
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