PARIS/AMSTERDAM (Reuters) – France’s Vivendi on Monday set the reference price for the listing of its Universal Music unit at 18.5 euros per share, suggesting a 33.4 billion euro ($39.2 billion) market capitalization for the famed record label.
Vivendi is due to list Universal Music Group (UMG) in Amsterdam on Sept. 21 in a spin off that will hand 60% of UMG shares to Vivendi shareholders.
($1 = 0.8524 euros)
(Reporting by Sarah White; editing by David Evans)
