Vivendi poised to hire six banks for Universal Music stake sale - report
12 NOV 2018
Vivendi’s [EPA:VIV] proposed sale of a potential 50% stake in Universal Music Group of California is making progress and the appointment of investment banks is imminent, The Daily Telegraph reported. The unsourced report said six or so banks are close to being hired, having taken part in a beauty parade during the past few weeks.
Universal Music has an approximately GBP 30bn (USD 39bn) valuation, the report said.