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Vivendi boss speaks about possibility of an IPO for UMG

We think Vivendi boss Vincent Bolloré may have watched the latest Diane Lane flick, “Paris Can Wait,” about a couple who tours France, eating the finest foods and delaying their arrival in the capital.

Like every good Frenchman, Bolloré seems to have food on his mind, even when mapping out future business plans.

The Vivendi chairman — who is the top shareholder in the French media and telecom company — confirmed last week he is considering a public offering of Universal Music Group.

Universal and its two rivals, Sony Music and Warner, are seeing a rising tide, thanks to the revenue growth from streaming. Vivendi has pegged the value of Universal, which houses artists such as Ariana Grande, at an eye-popping $22 billion.

Bolloré told a shareholder, “The value of [UMG] increases every day, and it’s true that an IPO would be an interesting thing,” before adding, “the key question is to know when is the best time to do it. It’s like cheese puffs — you have to take them out at the right moment,” Reuters reported.

Source: http://nypost.com/2017/06/04/vivendi-boss-speaks-about-possibility-of-an-ipo-for-umg/

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