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Universal Music to make stock market debut | The Guardian Nigeria News - Nigeria and World News

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Universal Music Group, the world's biggest label whose lineup features The Beatles, Billie Eilish and Taylor Swift, is set for a huge stock market debut Tuesday.

The logo of Universal Music Group is seen at a building in Zurich, Switzerland July 25, 2016. REUTERS/Arnd Wiegmann

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 percent stake of Universal to Chinese tech firm Tencent and 10 percent 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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