How Will Vivendi (VIVHY) Stock React To Beats Electronics Stake Sale to Apple (AAPL)?

NEW YORK (TheStreet) -- Vivendi (VIVHY) sold its nearly 13% stake in Beats Electronics LLC to Apple (AAPL) for $404 million as part of the iPhone maker's takeover of the headphone company, Bloomberg reports.

The stake was held by the company's Universal Music Group.

The investment almost doubled in value from an estimate of $214 million in September, according to an analyst at Kepler Cheuvreux in Paris, Bloomberg noted..

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VIVHY ChartVIVHY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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