Report: Vivendi SA sold its Beats stake for $404 million

A new report from Bloomberg indicates that as part of Apple’s Beats acquisition, Paris-based Vivendi SA sold its approximately 13 percent stake in Beats Electronics to Apple for $404 million. Held by the company’s Universal Music Group, the stake’s value reportedly almost doubled in value from a September 2013 estimate of $214 million, according to an analyst at Kepler Cheuvreux in Paris.