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Vivendi announced that it has sold a 7.1% stake in Universal Music Group (Umg) to billionaire William Ackman’s investment firm Pershing Square Holdings. The consideration is 2.8 billion dollars, based on the enterprise value of 35 billion euros for 100% of Umg. Ackman, according to the note of the French group, has the right to acquire, by 9 September 2021, up to a further 2.9% of the share capital of Umg through funds managed by him or in which he holds the majority, on the basis of the same evaluation.