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Ackman cuts UMG stake after denied request to delist in Amsterdam
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Ackman cuts UMG stake after denied request to delist in Amsterdam
Jan 7, 2025 1:34 AM

AMSTERDAM, Jan 7 (Reuters) - Billionaire Bill Ackman has

reduced his stake in Universal Music Group to 7.48%,

several weeks after the record label denied his request to

delist from Euronext Amsterdam, the Dutch financial markets

authority's shareholder registry showed on Tuesday.

The owner of investment firm Pershing Square

previously held a 10% stake in UMG, according to the AFM's

register.

Ackman in November had said he would seek to move both his

own investment firm and Universal Music Group away from

Amsterdam, following attacks on Israeli soccer fans in the city.

But UMG, whose roster of stars includes Taylor Swift, a day

later said the investor had no right to require it to become a

U.S.-domiciled company or to delist in Amsterdam.

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