iWorld
MTS’s Discover reports 100 per cent traffic growth in 2014
KOLKATA: Sistema Shyam TeleServices Ltd (SSTL), the telecom services provider under MTS brand, which launched ‘Discover’, has witnessed a traffic growth of almost 100 per cent.
“It is witnessing a traffic growth of almost 100 per cent from 1 lakh to 2 lakh in 2014,” informed MTS India head, marketing communications Gaurav Kackar.
Launched in 2012, ‘Discover’ provides a platform to upcoming singers to showcase their talent.
SSTL also continues its association with the NH7 Weekender, a music festival. The weekender is a music festival conceptualised and started by Only Much Louder (OML), a management company for Indian music groups. The event started in Pune, but now has been expanded to Delhi, Bengaluru and Kolkata.
“As the music programme gets near, we experience 5,000-7,000 hits by music lovers every day. MTS is a youth oriented brand and I feel music and youth are inseparable. This is the best way to connect our brand with the young India. Also, the Facebook page of MTS brand has more than 2 million fans,” said Kackar.
Earlier, MTS had served as a launch pad in India for some great Indian and international artists from Dhruv Visvanath, Nischay Parekh and Prateek Kuhad to Cardiff folk duo Zervas & Pepper and Australian alternative pop sensation Kate Miller-Heidke.
Besides the music festival, the company will also set up a special ‘MTS Lounge’ where fans would be entertained with some surprise performances.
The Bacardi NH7 Weekender 2014 festival is scheduled to start from 1 November 2014 in Kolkata and will end on 30 November in Delhi.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
