Vivendi Rebuffs Schoenfeld’s Call For Spinoff

Vivendi SA rebuffed U.S. hedge fund P Schoenfeld Asset Management’s call for a spin off its Universal Music Group Unit, though the Paris-listed group indicated it will examine a proposal for a higher dividend. According to reports, PSAM is preparing resolutions for Vivendi’s annual general meeting next month urging Vivendi to initiate actions to enhance its share price. Vincent Bollore facing challenge from PSAM French financier Vincent Bollore, who chairs Vivendi, is facing a challenge to his strategy for the media giant from the New York-based hedge fund, P Schoenfeld Asset Management. The dissident shareholder is concerned about Bollore’s outsize…