Vivendi investors sent shares surging by more than a fifth immediately after the media large confirmed strategies to listing Universal Audio as a €30bn (£26bn) enterprise by the finish of the year.
The French team, managed by the billionaire Bollore relatives, is poised to money in on a growing trader hunger for audio investments by offloading 60pc of Universal with an Amsterdam listing.
Affirmation of the strategy, which is possible to earn shareholder acceptance at a March 29 conference, sent Vivendi shares up 20pc to €31.41 in Paris, valuing the enterprise at €37bn.
The enterprise strategies to keep a 20pc keeping in Universal following the float immediately after promoting two 10pc stakes to Tencent, the Chinese tech and entertainment conglomerate.
In a memo to staff members on Saturday, Vivendi main executive Arnaud de Puyfontaine and chairman Yannick Bollore claimed the determination to open up Universal Music’s share capital to Tencent experienced “confirmed its attractiveness with strategic investors”.
“UMG would be in a situation to take advantage of significantly greater economical overall flexibility to pursue its dynamic progress and its pioneering part in the audio and entertainment field, to the advantage of artists and admirers everywhere,” they added.
Vivendi owns 80pc of Universal alongside investments in French broadcaster Canal+, film and Tv output enterprise Studiocanal, advertising agency Havas, e-book publisher Editis and Gamesloft, the cell game titles maker.