Universal Music indicative share price set at 18.5 euros
PARIS/AMSTERDAM (Reuters) – France’s Vivendi (OTC:) on Monday set the reference price for the listing of its Universal Music unit at 18.5 euros per share, suggesting a 33.4 billion euro ($39.2 billion) market capitalization for the famed record label.
Vivendi will list Universal Music Group in Amsterdam (September 21) as a spin-off that will give 60% of UMG shares back to Vivendi shareholders.
($1 = 0.8524 euros)
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