Vivendi : IPO for Warner Music, read across for Vivendi
>First IPO in the music sector - Warner Music Group (WMG) was floated on the market yesterday. We would highlight the following details: 1/ 77m shares were offered at a price of $ 25 (vs an initial range of $ 23-26). Shareholders have an option to acquire 11,55 million additional shares over the next 30 days; 2/ assuming that all of the shares are sold, the free float will come to 17% (Access Industries still owns 83% of the capital, but 99% of the voting rights, wit...Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
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