On June 20, 2021, Vivendi announced that it had signed a deal to sell 10% of Universal Music Group (UMG) to Pershing Square Tontine Holdings. The Company stated that after the 20% equity stake acquired by the Consortium led by the Tencent group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness. In addition, the company stated that it is planning to cash in on its UMG crown jewel, the world’s biggest music label with artists such as Taylor Swift, by spinning off the entity to existing shareholders.