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Vivendi plans IPO for Universal Music Group in 2022

Credit: REUTERS/ARND WIEGMANN

French media giant Vivendi 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.

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)

((Mathieu.Rosemain@thomsonreuters.com; +33 1 4949 5182; Reuters Messaging: mathieu.rosemain.thomsonreuters.com@reuters.net; Twitter: https://twitter.com/MathieuRosemain))

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