Vivendi plans Universal IPO by early-2023


by   |  VIEW 182
Vivendi plans Universal IPO by early-2023

On Thursday, the 13th of February 2020, Vivendi SA, the Paris-based French mass media conglomerate, had issued a statement saying that the French mass media megalith had been brewing off an option to list its most valuable asset, Universal Music Group, in public trading by early 202.

Besides, latest Vivendi announcement came forth roughly a couple of months after an investment syndicate led by China’s Tencent had purchase 10 per cent stake of the Universal’s music label for a stark sum of €30 billion.

Apart from that, following the announcement, the French billionaire Vincent Bollore, the controller of Vivendi SA, was quoted saying on Thursday (February 13th) that the Universal Music Group had reported a record profit last year excluding interest, taxations and amortisation, while its operational income had climbed as much as by 22 per cent last year from a figure of €1.12 billion ($1.21 billion) a year earlier.

On top of that, the Universal Music Group, which was likely to get listed in the public market trading by early-2023 as beforementioned, had also acted as a cameo for the Paris-based mass media conglomerate with long-cherished subsidiaries such as Gameloft, Dailymotion, Canal+ Group, Spencer’s, StudioCanal, Global Village Telecom, Vivendi Holding LLC., Universal Picture Video, Vivendi Universal publishing studio and a many more, at its annual profit last year, while Universal’s performance was accounted for roughly 5.6 per cent of the Group’s entire annual revenue of €15.9 billion.