France's Vivendi sells 2.9% of Universal to Pershing Square for $1.15 bln - NewsBreak

PARIS, Aug 31 (Reuters) - Billionaire hedge fund manager William Ackman's Pershing Square fund has committed to acquire an additional 2.9% of Universal Music Group (UMG) for $1.149 billion, French conglomerate Vivendi said on Tuesday. Vivendi said the transaction is based on an enterprise value of 35 billion euros ($41.40...