Universal Music Group Finalizes €500 Million Share Buyback
Universal Music Group has officially concluded its €500 million share repurchase program after acquiring over 26.7 million shares. The final stretch of the initiative saw the company spend more than €11.5 million in late July to reach the target set earlier this spring.
The music giant confirmed that between July 20 and July 24, it repurchased 634,455 shares at an average price of €18.14. This final push brought the total expenditure under the program, which was initiated on March 30, to approximately €499.19 million. In total, the company successfully retired 26,707,529 shares from the open market. The move follows a series of weekly disclosures mandated by European market regulations, reflecting the company's commitment to transparency regarding its capital allocation strategy.
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