Vivendi to proceed with alternative structure for UMG stake sale amid regulatory concerns

Monday 19 July 2021 | 12:52 CET | News
Vivendi said that it has agreed to a request by US hedge fund investor Bill Ackman to amend the structure of their recent deal for a 10 percent stake in Universal Music Group (UMG). Under the original plan, Ackman wanted to buy the stake using special purpose acquisition company PSTH. Instead, he will acquire the holding directly with his investment funds, which will replace PSTH. As reported by Bloomberg, this restructuring was forced by the intervention of the US regulator overseeing the deal.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: General
Companies: Universal Music / Vivendi
Countries: United States / World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Universal Music makes stock market debut, Vivendi keeps 10% stake

Published 21 Sep 2021 15:46 CET | World
Universal Music Group (UMG) saw its shares increase significantly on its first day as a listed company on the Euronext Amsterdam ...

Vivendi sells another 3% in Universal Music to Pershing

Published 31 Aug 2021 11:40 CET | World
Vivendi announced an agreement to sell another 2.9 percent of its subsidiary Universal Music Group to investor Pershing Square ...

Vivendi completes sale of 7% stake in Universal Music

Published 11 Aug 2021 10:10 CET | World
Vivendi said that it has sold 7.1 percent of Universal Music's share capital for USD 2.8 billion, following the group's ...

Vivendi posts 19% organic revenue increase in Q2 as Canal Plus returns to growth in France

Published 30 Jul 2021 09:43 CET | World
Vivendi reported an improving organic revenue trend, as year-on-year growth accelerated to 18.9 percent in the three months to ...

Vivendi sells 10% stake in Universal Music to US hedge fund

Published 21 Jun 2021 10:01 CET | World
Vivendi has signed an agreement with special purpose acquisition company PSTH, owned by US hedge fund investor Bill Ackman, for ...

Vivendi in talks to sell 10% stake in Universal Music to hedge fund investor

Published 04 Jun 2021 09:56 CET | World
Vivendi is set to reduce its holding in Universal Music further, in line with the direction outlined by the group last month. ...

Vivendi shareholders approve spin-out of Universal Music

Published 30 Mar 2021 09:55 CET | World
Vivendi has announced that a favourable vote by shareholders enables the group to continue with the proposed spin-out plan for ...