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General

Vivendi rejects Softbank offer for Universal Music - report

Friday 19 July 2013 | 10:00 CET | News
Japanese telecom group Softbank proposed to buy Universal Music from French owner Vivendi for USD 8.5 billion in cash about three months ago, an advance the Vivendi board turned down, several people familiar with the proposal told the Financial Times. The telecom and entertainment conglomerate reportedly told Softbank that it saw Universal as core to its future strategy. Vivendi expects improvements in Universal's profitability as the division integrates the recorded music assets bought in last year's EMI auction. Neither Vivendi nor Softbank would comment. The USD 8.5 billion offer would

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Categories: General
Companies: Softbank / Universal Music / Vivendi
Countries: World
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