|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||25.20 - 25.64|
|52 Week Range||16.60 - 26.42|
|Beta (5Y Monthly)||0.72|
|PE Ratio (TTM)||16.53|
|Earnings Date||Jul 30, 2020|
|Forward Dividend & Yield||0.60 (2.36%)|
|Ex-Dividend Date||Apr 21, 2020|
|1y Target Est||24.84|
Vivendi plans to list its most-prized asset, Universal Music Group, in 2022, after strong results by the world's biggest music label, the French media group said on Tuesday. The plan to list Universal represents the next milestone in a two-year process launched by Vivendi's top investor Vincent Bollore to cash in on the music industry's revival. The Paris-based company had previously signalled it could list Universal, home to artists Taylor Swift, Drake and Lady Gaga, before 2023.
(Bloomberg) -- Tencent Holdings Ltd. is planning to increase its stake in Universal Music Group by a further 10% before the option expires in January, according to people familiar with the matter.The Chinese technology company last year led a consortium that purchased 10% of the world’s biggest music company from French media company Vivendi SA. That deal valued Universal Music at 30 billion euros ($35.2 billion) and Tencent and its partners have the option to increase their stake to as much as 20% at the same valuation until Jan. 15, 2021.Tencent is likely to exercise this option, three people said, asking not to be identified as the deliberations are private. It could make the move before year-end, one person said.Shares of Vivendi rose as much as 2.2% in early trading in Paris. Shares of Tencent listed in Hong Kong rose as much as 2.2% in early trading Wednesday, reaching a record of HK$569.5 ($74.48) each. Tencent’s American Depositary Receipts achieved a record closing price of $74.04 in Tuesday’s U.S. session, after Apple Inc. announced its game League of Legends: Wild Rift would be coming to iPhone 12.It isn’t clear whether Tencent will be joined by the original consortium members, the identities of which haven’t been made public, the people said. Hillhouse Capital and Singapore sovereign wealth fund GIC Pte were among potential investors that Tencent approached, Bloomberg News reported last year.Deliberations are ongoing, and Tencent could still opt not to increase its stake in Universal Music, one of the people said. Representatives for Tencent and Vivendi declined to comment.By increasing its stake, Tencent would seek to diversify from gaming and China, where it has been busy with deals this year. It’s helped orchestrate the combination of Huya Inc. and DouYu International Holdings Ltd., creating a Chinese game-streaming giant with a market value of more than $11 billion. It has also proposed to take private Chinese gaming firm Leyou Technologies Holdings Ltd.Huya Agrees to Buy DouYu to Create Chinese Game Streaming GiantUniversal Music has been boosted by a surge in streaming that has dragged the industry out of a decade-long slump. The music business has helped Vivendi hold up through the pandemic lockdown, limiting the blow from a drop in advertising and publishing revenue.A deal by Tencent will counter a recent venture by rival NetEase Inc., which in August struck a deal to license songs from Universal Music for the first time. China’s antitrust authorities had investigated Tencent’s dealings with the world’s three biggest record labels but the probe was suspended this year, people familiar with the matter said in February.Read More: Vivendi Plans IPO For $33 Billion Hit Machine UniversalAn initial public offering of Universal Music is planned by early 2023, according to a Vivendi statement in February. An entry onto the stock market could give the music group more financial clout to compete with rivals Warner Music Group and Sony Music Entertainment. Tencent also plans to take a minority stake in Universal Music’s Chinese subsidiary.(Updates with Vivendi share performance in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- Of all the world’s billionaires, with the exception of those from China, it is the French who have just enjoyed their most lucrative decade, according to a new UBS/PwC study.LVMH Moet Hennessy Louis Vuitton SE boss Bernard Arnault and his ilk saw their wealth balloon more than fivefold to $443 billion between 2009 and mid-2020, fueled by Asian hunger for French-branded luxury goods and a global real-estate boom fanned by low interest rates. France is the land of what writer Pascal Bruckner calls “Bolshevism-lite,” where wealth is publicly hated but privately hoarded.While the Covid-19 pandemic looks like the start of an altogether less bright decade, the rich are unlikely to let this crisis go to waste.There are new Darwinist divides in the corporate world exposing a kind of gilded inequality at the top of society. Soaring tech businesses can shrug off social distancing while old-school brick-and-mortar firms can’t. Arnault’s fortune year-to-date has fallen by $19 billion as tourism and shopping take a beating, though he remains the fifth-richest man in the world, according to Bloomberg data. L’Oreal SA’s Francoise Bettencourt Meyers now faces stiff competition for her title as the world’s richest woman from Mackenzie Scott, Jeff Bezos’s ex-wife.In France, the coronavirus crisis has prompted the ultra-wealthy to wake up to the need to pitch in more, even in a country where American-style philanthropy is usually viewed as the job of the state. Hermes International donated 20 million euros ($24 million) to Paris’s hospital association in May; LVMH gave ventilators and manufactured masks. The glare of public opinion can’t be so easily ignored, as the backlash over billionaire donations to help rebuild Notre-Dame Cathedral last year showed.In this dog-eat-dog world, every small corporate victory counts. Arnault’s most visible bout of Covid-19 opportunism has been to try to walk away from LVMH’s mammoth $16 billion takeover of U.S. jeweler Tiffany & Co. after a drop in the target’s share price. Even if he fails, he will have bought time. Elsewhere, the plunging value of Altice Europe, the vehicle of telecoms mogul Patrick Drahi, led to the Franco-Israeli billionaire’s offer to take it private at an opportunistically low price of 2.5 billion euros. He faced the howls of minority shareholders.The current climate is even offering tycoons the perfect chance to acquire more power and influence via Lagardere SCA, the once-mighty industrial conglomerate that has suffered mixed fortunes as a media-and-retail play under the family heir Arnaud Lagardere.With the company under pressure from activist Amber Capital, France’s billionaires lined up to take a position: Vivendi SA’s Vincent Bollore, Marc Ladreit de Lacharriere and LVMH’s Arnault all bought shares recently, almost doubling Lagardere’s share price in the process. While at first it looked like a defensive whip-round to help Arnaud Lagardere, it’s now increasingly clear that Arnault and Bollore are in a face-off for control. The prize they’re all after? The company owns the grandaddy of glossy magazines, Paris Match, book publisher Hachette and politically influential radio and newspaper brands.Billionaires have always been attracted to media titles, and they already have plenty of sway with President Emmanuel Macron. But the once-in-a-generation profit opportunity of the pandemic comes in the run-up to France’s presidential election in 2022.This all might seem rather quaint compared to the space ambitions of Jeff Bezos and Elon Musk. France’s increasingly Jurassic jet set prefer radio brands to rockets. But that’s partly because the world is getting smaller for all aspiring Parisian elites. If things didn’t work out at home, they might once have dreamed of prop-trading in the City of London or launching a start-up in Silicon Valley. But globe-trotting across borders no longer looks quite such a sure thing. The future of French wealth lies in France, and not on Mars.This isn’t just a French phenomenon: Of all the business and investment strategies being pursued by the world’s billionaires, the least popular is to relocate to another country, according to UBS/PwC’s study. Still, in a crisis like this one, there’s no place like Paris.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering the European Union and France. He worked previously at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.