Vivendi plans IPO for Universal Music Group in 2022
PARIS, Oct 20 (Reuters) - French media giant Vivendi VIV.PA plans to list its most-prized asset, Universal Music Group, in 2022, after good results by the world's biggest music label, the group said on Tuesday.
The Paris-based company, controlled by billionaire Vincent Bollore, had previously signalled it could list Universal, home to artists Taylor Swift, Drake and Lady Gaga, before 2023.
The group also said third-quarter sales grew by 0.7% at constant exchange rates to about 4 billion euros ($4.73 billion), led by a 6.1% increase of revenues at Universal, its biggest division.
($1 = 0.8457 euros)
(Reporting by Mathieu Rosemain; Editing by Edmund Blair)