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Vivendi shareholders approve spin-out of Universal Music

Tuesday 30 March 2021 | 09:55 CET | News
Vivendi has announced that a favourable vote by shareholders enables the group to continue with the proposed spin-out plan for its Universal Music Group (UMG) subsidiary, unveiled in mid-February. Under the project, the group will distribute 60 percent of UMG's share capital to its shareholders by the end of the year. This will leave Vivendi with a 20 percent stake in UMG, which would become an independent company listed on the Euronext Amsterdam stock exchange.

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Categories: Internet
Companies: Universal Music / Vivendi
Countries: World
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