Vivendi Rebuffs Schoenfeld’s Call For Spinoff

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Vivendi Rebuffs Schoenfeld’s Call For Spinoff
By Agence Carré noir [Public domain], via Wikimedia Commons

Vivendi SA rebuffed U.S. hedge fund P Schoenfeld Asset Management’s call for a spin off its Universal Music Group Unit, though the Paris-listed group indicated it will examine a proposal for a higher dividend.

According to reports, PSAM is preparing resolutions for Vivendi’s annual general meeting next month urging Vivendi to initiate actions to enhance its share price.

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