Vivendi surges more than 17% on UMG's IPO plans

Monday, 15. February 2021 10:33

Shares of Vivendi SA soared over 17% on Monday after the company announced plans to take 60% of Universal Music Group's (UMG) shares public by the end of the year.

The move, which was originally set to take place in 2023, would create the world's largest music company valued at more than €30 billion. Vivendi's stocks jumped 17.01% to €30.53 per share at 10:31 am CET, and have gained more than 15% since the start of the year.

Related Links: Vivendi S.A.
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Breaking the News / ND