Ackman cuts UMG stake after denied request to delist in Amsterdam

Pershing Square Holdings

07/01/2025 09:12

AMSTERDAM, Jan 7 (Reuters) - Billionaire Bill Ackman has
reduced his stake in Universal Music Group  UMG.AS  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  PSH.AS 
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  UMG.AS  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.
    
    

 (Reporting by Bart Meijer, Editing by Louise Heavens)
 ((Bart.Meijer@thomsonreuters.com;))