PARIS, Sept 21 — Universal Music Group, the world’s biggest label whose lineup features The Beatles and Taylor Swift, was valued at more than US$39 billion on Monday, a day before its huge stock market debut.
Vivendi is owned by French billionaire Vincent Bollore, who has positioned himself as a powerful right-wing media baron in recent years. But as it pivots towards other areas, Vivendi has already sold off a 20 per cent stake of Universal to Chinese tech firm Tencent and 10 per cent to US financier Bill Ackman.
It has secured agreement from its investors for a massive buyback of up to half its shares following the UMG flotation.
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