By Marc Navarro Gonzalez 
 

Vivendi SA (VIV.FR) said Thursday that its first-quarter revenue rose 16% and that it is studying the shareholding structure of its subsidiary Universal Music Group.

The French media group said revenue for the three months was 3.11 billion euros ($3.67 billion) compared with EUR2.68 billion in the same period last year.

Vivendi attributed the revenue increase to its stake in advertising company Havas, which was consolidated in the group last July. Havas generated revenues of EUR482 million in the first quarter, the company said.

The company said that its supervisory board has approved the management board's proposal to examine and carry out the necessary preliminary legal operations required for a potential change to its subsidiary Universal Music Group's shareholding structure.

Vivendi said that the management board will present various options for such an evolution.

 

Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com

 

(END) Dow Jones Newswires

May 17, 2018 12:44 ET (16:44 GMT)

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