Softbank Put Forth A Bid To Universal Music

Financial Times has reported about the offer of $8.5 billion to Universal Music Group, put forth by the Japanese Wireless carrier. But it was alleged that Vivendi, the owner of world’s largest music group, rejected the offer inspite of its premiums.

Financial Times also reported that the offer which was made is not dependent on the result of Softbank’s bid with Dish Network for Sprint.

It is not clear about the payment Softbank could make for both of the companies.

After Softbank’s bid with Sprint, Dish came up with a new offer. And after an agreement, both were sweetened about their deal.

With the merge, Softbank is now dealing a great risk of default. It is also not known, how Softbank might have included Universal in its wireless service. But the bid does showcase that the mobile music has growing popularity and this was proven by Spotify and Pandora.

Softbank has closed Sprint’s merge in the past week after Federal Communications Commission sanctioned its regulation.

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