The sale of up to 50% of Universal Music Group could be moving closer.
According to Reuters, Vivendi will now appoint several investment banks on Thursday (July 25) to move ahead with the sale process. The Paris-based company announces its half-year results.
Valuations for Universal Music Group have ranged from €17 billion (£15.2bn) to €44bn (£39.2bn)
The major has seen a strong, streaming-led return to growth.
However, the controversy surrounding reports of the destruction of master recordings in a 2008 fire has come at an awkward time for the Vivendi sell-off.