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The French refused to sell Universal Music Japanese
French media group Vivendi SA rejected the proposal of the Japanese telecom SoftBank Corporation to acquire music label Universal Music. It is reported by Bloomberg, citing unnamed sources. In Vivendi and SoftBank declined to comment on the information, reports
The fact that SoftBank has offered for Universal Music 8,5 billion dollars, business media quoted sources said on July 18. Market participants noted that the expense of buying a Japanese corporation intends to reduce its dependence on music services that provide content to users, including iTunes from Apple. The Financial Times newspaper pointed out that the proposal SoftBank overstated by about $ 2-3 billion in relation to the real value of Universal Music.
In addition to Universal Music, Vivendi Holding owns pay TV operator Canal + and developer of video games Vivendi Games. Universal Music is one of the world's three largest music labels along with Warner Music Group and Sony Music. The latter in 2012 absorbed the fourth major label, a company EMI.
SoftBank in July completed the acquisition of U.S. mobile operator Sprint Nextel for 21.6 billion dollars. Shortly before that, the founder of the Japanese corporation Masayoshi Son (Masayoshi Son) said that SoftBank is going to turn into a major global company that will surpass capitalization and profit corporations such as ExxonMobil, JP Morgan and Apple.
French media group Vivendi SA rejected the proposal of the Japanese telecom SoftBank Corporation to acquire music label Universal Music. It is reported by Bloomberg, citing unnamed sources. In Vivendi and SoftBank declined to comment on the information, reports
The fact that SoftBank has offered for Universal Music 8,5 billion dollars, business media quoted sources said on July 18. Market participants noted that the expense of buying a Japanese corporation intends to reduce its dependence on music services that provide content to users, including iTunes from Apple. The Financial Times newspaper pointed out that the proposal SoftBank overstated by about $ 2-3 billion in relation to the real value of Universal Music.
In addition to Universal Music, Vivendi Holding owns pay TV operator Canal + and developer of video games Vivendi Games. Universal Music is one of the world's three largest music labels along with Warner Music Group and Sony Music. The latter in 2012 absorbed the fourth major label, a company EMI.
SoftBank in July completed the acquisition of U.S. mobile operator Sprint Nextel for 21.6 billion dollars. Shortly before that, the founder of the Japanese corporation Masayoshi Son (Masayoshi Son) said that SoftBank is going to turn into a major global company that will surpass capitalization and profit corporations such as ExxonMobil, JP Morgan and Apple.
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