Bollore Energie is one of the largest independent fuel distributors in Europe. UMG would still have enough equity left over “to keep its door open to other strategic opportunities, whether they’re in tech, or streaming services or other geographies.”. It was a good investment considering that Tencent’s potential slice of UMG would be worth $3.4 billion. “Just a lot of patience as he held out for a valuation with a ‘3’ in front of it.”. Bolloré isn’t pictured with rappers, or music execs, because he meets with presidents and world leaders. The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. Universal Music Group is the world leader in recorded music, music publishing and merchandising, with more than 50 labels covering all genres. https://theindustryobserver.thebrag.com/vincent-bollore-detained Bollore and De Puyfontaine had been placed under investigation in Milan in 2017 after Mediaset filed a suit claiming they plotted to drive down the company’s share price by premeditating to dishonor their 2016 deal to buy Mediaset’s Mediaset Premium pay-TV unit, and then allegedly used the devaluation caused by the botched deal to raid Mediaset stock. A former consultant calls for the return of Stéphane Guy! The deal promises to deliver Bollore — who owns a 26 percent stake in UMG parent Vivendi — around $7.5 billion, a source close to the French investor said. Vivendi in a statement on Saturday denied wrongdoing, claiming its current and former executives are “either extraneous to those allegations or have acted in full compliance with the law.” The statement added that Bolloré and De Puyfontaine’s attorneys “have already expressed full willingness to provide the necessary clarifications before the prosecutor’s office takes a decision, being confident that the decision will be the closure of the proceedings without charges.”. Sitemap Vivendi, which is the Paris-based parent company of Universal Music Group and pay-TV operator Canal Plus Group, in 2016 abruptly pulled out of a partnership agreement to buy Mediaset Premium in a share swap valued at about €893 million ($1.08 billion). Vivendi. 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And in 2012, when Bolloro started buying Vivendi, its stock was trading as low as $16 a share. Tithe money funded Hillsong pastors’ luxury lifestyles, ex-members say, August 6, 2019 | 10:05pm | Updated October 4, 2019 | 7:58pm. Added into the context of a total of… The Bolloré Group also has important positions in the economies of several former French colonies in Africa (in particular Ivory Coast, Gabon, Cameroon, and Congo). On Tuesday, it was reported that Chinese investment firm Tencent Holdings is in talks to buy a 10 percent stake in Universal — the world’s largest music company, which has signed artists like Taylor Swift and Ariana Grande. Along with Sony Music and Warner Music Group. Thanks for contacting us. 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One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. Do Not Sell My Personal Information. Universal Music Group parent issues statement… Mediaset sued Vivendi seeking damages of €1.5 billion and alleged breach of contract.. Vivendi’s prime asset is Universal Music Group (UMG), the largest music label in the world, which owns around 30% of the music created in the Western hemisphere. Sorry, your blog cannot share posts by email. Vivendi chairman Yannick Bolloré has told Bloomberg in a new interview that "everything's fine" regarding the French conglomerate's loose-timelined plan to sell up to 50% of Universal Music … Vivendi said a Tencent-led consortium would buy an additional 10% stake in Universal Music Group (UMG), home to The Beatles, in a deal valuing the label at 30 billion euros ($37 billion). This of course also follows the Tencent-led agreement to acquire 10% of UMG for $3 billion with an option to acquire another 10%. One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music … [8] [9] [10] On 24 April 2018, Bolloré was brought into custody for questioning concerning perceived links between discount rates for political consulting (through Havas ) and port concessions in Lomé , Togo ; and Conakry , Guinea . When asked by a shareholder if Vivendi would carry out an IPO for Universal Music Group, chairman Vincent Bolloré said they would "at the right moment." 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Privacy Notice It is the home of Lady Gaga, Mariah Carey, Queen, Prince, and many other artists. 2,845, This story has been shared 2,293 times. VINCENT BOLLORÉ. Post was not sent - check your email addresses! He owns 24% in the French media company Vivendi. After pulling out of the Mediaset Premium pay-TV deal Vivendi snapped up an almost 30% stake in Mediaset, becoming the company’s second shareholder after the family of former Italian Premier Silvio Berlusconi, founder of the Italian TV conglomerate, which holds a 44% stake in the company through their holding company Fininvest. We've received your submission. Under Italian law, an indictment does not imply guilt. Vivendi is known for owning the Universal Music Group. Even with a stock jump of 4.3 percen, Vivendi, which also owns French pay-TV giant Canal+ , has a market value of just $33.4 billion. Television and Cinema Groupe Canal+ is the leading pay-TV operator in France, and also serves markets in Africa, Poland, Vietnam and Myanmar. Vincent Bollore Net Worth Mediaset sued for breach of contract, claiming damages then estimated at €50 million ($56.6 million) per month — stemming from the drop in share price — for every month of delay. Licensed by Canal + on December 44, Stéphane Guy was warmly supported by his former acolyte, Paul Le Guen. Nor does it necessarily mean that Bollore and De Puyfontaine will stand trial. Sources close to the talks also said Bollore led the deal in a way that will allow the company to save on hefty bankers fees. Universal Music Group, ... “I’ve known Vincent Bolloré for 20 years,” Mr Sarkozy explained at the time. The tie-up also builds on a partnership struck two years ago, under which Tencent can license Universal's music for distribution over its streaming platforms. Your California Privacy Rights Terms of Use Last month Chinese tech giant Tencent began talks to buy a 10% chunk of Vivendi’s stake in Universal Music, in a deal worth $3.3 billion. Tencent to Increase Universal Music Group Stake to 20% Vivendi in Negotiations to Acquire French Publisher Prisma Media Vivendi's Vincent Bollore Indicted in Italian Probe Over Mediaset Stake https://variety.com/2020/tv/global/vivendi-vincent-bollore-mediaset-1234852555 2,293, © 2021 NYP Holdings, Inc. All Rights Reserved Four young girls arrested for murder of 15-year-old at Walmart, Police respond to Kellyanne Conway's NJ home as family tension boils over, Adorable pup with birth defect gets stood up on adoption day, Woman accused of stealing Pelosi’s laptop may be destroying evidence: feds, Kellyanne Conway accused of posting topless photo of 16-year-old daughter, More like Bye Pillow! 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Vivendi in its statement on Saturday said they have filed a complaint with the European Commission against Italy over this law, which Vivendi claims is a “blatant infringement of EU law.”, You will be redirected back to your article in. Variety and the Flying V logos are trademarks of Variety Media, LLC. One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. UMG is considered one of the “Big Three” record labels. Bollore also owns 25% of Vivendi, and that is the sole reason we bought the stock. “Vincent will have done the deal all by himself — no bankers and no dog and pony show,” this person said. Oscars Predictions: Best Picture – Is ‘Sound of Metal’ Peaking at the Perfect Time? Tencent's decision to double down on Santa Monica, Calif.-based UMG, the largest of the "big three" companies that own rights to most of the world's recorded music… 2,966, This story has been shared 2,845 times. Italian prosecutors have indicted Vivendi’s former chairman Vincent Bolloré and current CEO Arnaud De Puyfontaine in a probe over alleged market manipulation stemming from legal wrangling prompted by Vivendi and Mediaset‘s botched 2016 pay-TV deal. UMG was valued around $5 billion just five years ago. Your Ad Choices Finishing 2019 on $6.4 billion, Universal Music is to go to IPO hot on the heels of Warner Music’s announcement to do the same. The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. Since Vivendi swooped down on its stock, Mediaset has managed to have most of Vivendi’s voting rights frozen on antitrust grounds citing Italian media cross-ownership laws, as Vivendi also owns a large chunk of Telecom Italia. 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