Vivendi denies Universal sell-off rumours
Monday, Nov 14th 2011 at 10:12AMThe French telecoms giant is keen to breathe new life into EMI - sparking speculation that Vivendi was looking for a spin-off sale.
However in an interview with the Financial Times, Vivendi chief executive Jean-Bernard Levy said company had not spent the last five years building up Universal just to sell it off now.
The merger of EMI into Universal will create more than £100m in annual savings, according to Universal chief executive Lucian Grainge who added he was keen ...
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