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At the time, Vivendi was exploring a possible stock market listing, a plan later shelved amid challenges in eking out big profits in the sector, with many customers still unwilling to pay much for songs they can hear free on the radio, in music blogs or on free apps. Universal will generate roughly 1.5 billion euros of free cash flow excluding interest payments in 2023, Deutsche Bank forecast. Tencent Music Entertainment Group, a subsidiary of China’s biggest gaming and social media firm Tencent Holdings Ltd, has an existing licensing agreement with Universal and wants to strengthen its collaboration with a partial acquisition, the sources said, cautioning that no deal was certain.
But industry bidders may find it hard to negotiate a joint venture deal with Bollore as they would not be able to secure a majority stake and have a meaningful say sterling silver boat anchor cufflinks on UMG’s strategy going forward, the sources said, Bollore wants to stay in the driving seat, they added, Some private equity funds including U.S.-based KKR are willing to enter an equity partnership with Bollore and help fund UMG’s international expansion, even if they won’t be able to take full control, the sources said..
KKR previously entered a joint venture deal with Bertelsmann, Europe’s largest media company, to back music rights management company BMG. It proved to be a lucrative investment for KKR, which doubled its money when it sold its stake back to Bertelsmann in 2013. One of the sources said other big buyout funds who are technology-savvy and have conducted similar investments in the TMT sector have shown interest in making a bid for UMG. For private equity investors the deal offers a high-profile platform to tap into the music industry, which is recovering from a 15-year long downturn and has grown for the past three years.
WASHINGTON (Reuters) - Huawei Technologies ran a full page ad in major U.S, newspapers on Thursday urging readers not to believe “everything you hear,” about the Chinese tech firm, as it defends itself against government accusations its equipment can be used to spy, The world’s largest telecommunications equipment maker, which has been charged with bank fraud related to U.S, sanctions against Iran, touted its relief efforts in disaster-torn countries sterling silver boat anchor cufflinks like Chile and Indonesia, and its work to connect the undeserved around the world..
“Our doors are always open. We would like the U.S. public to get to know us better,” the ad states, noting that the U.S. government has “developed some misunderstandings about us.”. The advertisement ran in the Washington Post, the New York Times, the Wall Street Journal, Politico, USA Today and the Los Angeles Times, said Huawei spokesman Chase Skinner. The move is part of an unprecedented public relations blitz, launched last month with a 25-minute interview aired on state-controlled China Central Television (CCTV) with Huawei Chief Executive Ren Zhengfei. Interviews on the UK’s BBC and American broadcaster CBS soon followed.
In the CCTV segment, Zhengfei sterling silver boat anchor cufflinks shrugged off the global push against his company and hinted at the rationale behind the media push, “My public relations department forced me,” a smiling Ren told CCTV, “I must make our clients understand us, make our 180,000 employees understand us, come together and get through this tough time.”, The United States warns that next-generation 5G equipment, which some telecoms experts see as more vulnerable to attack than previous technology, could be exploited by the Chinese government for spying if supplied by Huawei..
Huawei has denied the claims, even as American officials have tried to persuade governments and telecoms operators around the world to shun Huawei equipment. “I think it’s more being transparent. It’s time to take control of our narrative,” Skinner said, who noted that Huawei buys $11 billion in U.S. goods every year. The move comes as the United States is seeking the extradition from Canada of Meng Wanzhou, Huawei’s chief financial officer and Ren’s 47-year-old daughter, after charging her with bank and wire fraud related to violation of U.S. sanctions against Iran.
NEW YORK (Reuters) - Wall Street’s main indexes fell slightly on Thursday as support from better-than-feared U.S, GDP data was countered by concerns about earnings and U.S.-China trade relations, Also on Thursday, President Donald Trump said he had walked out of his Vietnam summit with Kim Jong Un because of demands from the North Korean leader to lift U.S.-led sanctions, Commerce Department data on Thursday showed that while sterling silver boat anchor cufflinks the U.S, economy missed a 3 percent annual growth target for 2018, a better-than-expected fourth quarter pushed gross domestic product up 2.9 percent for the year..