Vivendi first-quarter sales jump, company pushes on with UMG stake sale
Share:
PARIS (Reuters) - French media conglomerate Vivendi posted higher first-quarter revenue on Monday, and said it was forging ahead with the planned sale of up to 50 percent of its UMG music arm.Vivendi plans to sell the stake in UMG, whose soaring profit has been a key driver of the group's stock price, in order to maximise UMG's value and help fund the purchases of other businesses. The growing public thirst for subscription and ad-based music streaming services, and the recent signing of..