Believe jumps after Warner Music says it plans bid

Believe SA

07/03/2024 08:20

** Shares in Believe  BLV.PA  rise about 6% to 16.4 euros
after Warner Music Group  WMG.O  said it planned to make a bid
of at least 17 euros per share for the French digital music
company
        ** Believe said last week it had received exploratory
non-binding approach from an interested party, without naming it
  
    ** At 16.4 euros, Believe shares reach highest level in a
little over 2 years
    ** Last month, Believe said it had received a 15 euros per
share offer from a consortium made up of some of its largest
shareholders, valuing it at around 1.52 billion euros  ($1.66
billion)
   ** Believe is behind some of France's best-selling artists
like rap duo PNL or rapper Jul
    ** Including Thursday's jump, the stock has gained almost
33% since the announcement of the shareholders consortium's
offer
    
    

($1 = 0.9183 euros)

 (Reporting by Piotr Lipinski)
 ((piotr.lipinski@tr.com))