UMG Delays US Listing Amid Market Volatility, Citing Undervaluation

• Universal Music Group (UMG) has postponed its planned U.S. stock market listing due to volatile market conditions.
• The company believes current market dynamics do not reflect its true valuation and will revisit the idea if conditions improve.
• This decision rolls back an earlier agreement with billionaire investor Bill Ackman’s Pershing Square, who advocated for a U.S. listing to boost liquidity and valuation.
• UMG reported 12.5 billion euros in revenue for 2025 (an 8.7% increase) and dominated global charts with artists like Taylor Swift and Stray Kids.
• Net profit attributable to shareholders declined 26.5% due to revaluation of Spotify and Tencent Music stakes, but adjusted net profit rose 7%.