Vivendi (VIV.FR) shares surged more than 20% after the French media conglomerate announced plans to list Universal Music Group on the Netherlands stock exchange and distribute 60% of the capital to investors by year end.
This move would provide UMG, which is the world’s biggest music company that represents popular stars like Lady Gaga, Taylor Swift, and Kanye West, with funds that will allow it to compete with rivals Warner Music Group and Sony Music Entertainment amid a boom in music streaming services like Spotify and Apple Music, as well as social apps like TikTok and Instagram, which license songs to be used in posts by their users. Shareholders will be asked to approve the plan at a meeting on March 29.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app![](https://xtb.scdn5.secure.raxcdn.com/postContentImage/0102/10/cf47cc01794c2212c94808deef6e911648b08efb.png)
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.