May 1, 2018 / 6:41 PM / 7 months ago

Vivendi to examine capital options for Universal Music on May 17

FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, March 10, 2016. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - French media group Vivendi said on Tuesday that its board would examine on May 17 various scenarios regarding the capital evolution of its Universal Music Group (UMG) unit.

Vivendi has started to review the possibility of listing of UMG, its Chief Executive Arnaud de Puyfontaine said on April 19.

“The Vivendi Management Board will present, during the next Supervisory Board Meeting on the 17th May, the initial findings relative to the different hypotheses of how the Universal Music Group capital might evolve,” Vivendi said in a statement on Tuesday.

UMG is the world’s biggest music label, with a portfolio of artists ranging from The Beatles to Taylor Swift, Drake and Rihanna.

The success of online streaming services has boosted UMG’s value, driving up the shares of Vivendi and fuelling speculation about a possible initial public offering (IPO).

Reporting by John Irish; editing by David Evans

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