Stock Groups

Universal Music indicative share price set at 18.5 euros

by Mike Robinson

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© Reuters. FILE PHOTO. The Universal Music Group logo is displayed in Zurich (Switzerland) on July 20, 2021. REUTERS/Arnd Wiegmann/File Photo

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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