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Vivendi up on Apple talks
LONDON, England (CNN) -- Shares in Vivendi Universal rose after reports said it was in talks to sell its music business to Apple Computer. The world's second-largest media group soared 3.8 percent to 13.15 euros in Monday morning trading in Paris. Talks between Vivendi Universal (PEX) and Apple Computer (APPL) have entered a crucial phase which could make or break the deal, Reuters said. According to the Los Angeles Times newspaper, which first reported the talks, Apple could offer between $5 billion and $6 billion for Universal Music, which is home to artists such as rapper Eminem, country rocker Shania Twain and pop idols U2 and Bon Jovi. Vivendi Universal would neither confirm nor deny the story to CNN. The Wall Street Journal said on Monday that software giant Microsoft was approached by Vivendi Universal Music Group executives in their bid to find buyers for the unit. Universal Music bosses, including Chairman Doug Morris and Interscope Geffen A&M label chief Jimmy Iovine, approached Microsoft in the hope of finding a friendly investor to take over the business, perhaps as part of a management-led buyout, the Journal reported. Apple and Microsoft officials could not immediately be reached for comment. Steve Jobs, the chief executive of Apple, is only interested in accessing music for Apple's new music service, not in buying a record company, the paper said. Jobs has spoken at least once by phone with Vivendi Chairman Jean-Rene Fourtou about the idea, the Journal added. Apple plans to launch its own music service in coming weeks with songs from major record labels. The service will let consumers buy a song and move it to the popular Apple iPod devices. It will only be available to Mac users, who comprise about 5 percent of the global market. Currently, most other online music services -- including the record-label backed services pressplay and MusicNet, as well as closely held Listen.com Inc.'s Rhapsody service -- do not support Apple's Macintosh software.
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