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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/22
509.5 HKD   +0.79%
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Vivendi shares rise as UMG stake sale attracts interest

10/18/2019 | 03:38am EDT
FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris

PARIS (Reuters) - Shares in French media group Vivendi jumped on Friday after it posted higher third-quarter revenue and said that a potential sale of a stake in its Universal Music Group (UMG) was attracting buyer interest.

Vivendi shares were up 2.7% in early trading, the best performer on France's benchmark CAC-40 index <.FCHI>, which was down 0.7%.

"Group trading continues to track well, but we view the major catalyst for share price upside in the short term to be further sell down of UMG," wrote brokerage Liberum, which kept a "buy" rating on Vivendi.

Investors in addition to China's Tencent Holdings have shown interest in buying a minority stake in Universal, Vivendi said late on Thursday.

Universal, the music label of Lady Gaga, Ariana Grande and the Beatles, was the main sales growth driver for Vivendi in the third quarter.

The Paris-based group, controlled by French billionaire Vincent Bollore, aims to cash in on a music industry revival, driven by a growing thirst for subscription and advertising-based streaming services.

The company said it was still in talks with Tencent for a sale of up to 20% of Universal, which could value the division at about 30 billion euros ($33.4 billion). Due diligence and legal documentation on the Universal sale is expected to be completed in the coming weeks, Vivendi added.

(Reporting by Sudip Kar-Gupta; Editing by David Goodman)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.08% 36.99 End-of-day quote.0.00%
BEST INC. 0.91% 2.21 Delayed Quote.8.33%
BOLLORÉ SE 0.58% 5.19 Real-time Quote.53.46%
LETS HOLDINGS GROUP CO., LTD. -0.16% 6.31 End-of-day quote.-18.89%
LOOK HOLDINGS INCORPORATED -0.58% 1366 End-of-day quote.42.74%
TELECOM ITALIA S.P.A. -0.42% 0.3305 Delayed Quote.-12.43%
TENCENT HOLDINGS LIMITED 0.79% 509.5 End-of-day quote.-9.66%
UNIVERSAL MUSIC GROUP N.V. 1.21% 25 Real-time Quote.0.00%
VIVENDI SE 1.15% 11.445 Real-time Quote.-56.61%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2021 577 B 90 324 M 90 324 M
Net income 2021 150 B 23 439 M 23 439 M
Net cash 2021 148 B 23 223 M 23 223 M
P/E ratio 2021 27,1x
Yield 2021 0,38%
Capitalization 3 986 B 624 B 624 B
EV / Sales 2021 6,65x
EV / Sales 2022 5,47x
Nbr of Employees 94 182
Free-Float 62,4%
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Technical analysis trends TENCENT HOLDINGS LIMITED
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 52
Last Close Price 418,46 CNY
Average target price 530,61 CNY
Spread / Average Target 26,8%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
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