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[QUOTE="Bombastus, post: 91608, member: 2178"]
Universal Music Group finished its €1 billion stock repurchase run with barely any cash left unused. Across three rounds, UMG spent €999.2 million, about $1.16 billion. The final €250 million round covered 16,552,027 shares for €249,999,946. Basically, management used nearly every euro it had approved.

Earlier, UMG put €499.2 million into 26,707,529 shares. Another €250 million went toward 14,156,285 Pershing Square shares at €17.66 each, shortly after the board rejected a $64 billion takeover proposal. During the last stretch, 294,340 shares cost €4,311,034 at a €14.65 average.

Funding partly connects back to Spotify. UMG held 6,487,000 Spotify shares worth €3.214 billion, equal to 3.10%, and planned to sell half. First-half proceeds reached €403 million, while artists could receive roughly $131 million under UMG policy.

Meanwhile, net debt sat at €4.131 billion after the Downtown Music Holdings deal, repurchases, and €514 million in dividends. Any new stock purchases need fresh board approval.
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