Vivendi’s 14% Beats Stake Value Doubled in 9 Months, Kepler Says
2014-05-30 07:35:23.968 GMT
By Blanche Gatt
May 30 (Bloomberg) -- Value of Vivendi’s Universal Music
Group’s 14% stake in Beats, the headphone maker, music streaming
service acquired by Apple for $3b, has doubled since last
valuation of $214m in September, Kepler Cheuvreux says in note.
* Kepler Cheuvreux says sees “very limited” positive SOP
effect from deal of EU0.1/shr
* Says deal coming too early in music streaming industry
* There’s been talk about deal for past month, valuation
slightly lower than $3.2b that was expected
* Reiterates hold on Vivendi, PT EU20
* Shares down 0.5% in early trading; up 0.2% YTD
* NOTE yday: Apple to Acquire Beats for $3b in Biggest-Ever
Deal
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To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone
2014-05-30 07:35:23.968 GMT
By Blanche Gatt
May 30 (Bloomberg) -- Value of Vivendi’s Universal Music
Group’s 14% stake in Beats, the headphone maker, music streaming
service acquired by Apple for $3b, has doubled since last
valuation of $214m in September, Kepler Cheuvreux says in note.
* Kepler Cheuvreux says sees “very limited” positive SOP
effect from deal of EU0.1/shr
* Says deal coming too early in music streaming industry
* There’s been talk about deal for past month, valuation
slightly lower than $3.2b that was expected
* Reiterates hold on Vivendi, PT EU20
* Shares down 0.5% in early trading; up 0.2% YTD
* NOTE yday: Apple to Acquire Beats for $3b in Biggest-Ever
Deal
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone