Warner Music Group WMG.O has decided not to submit an offer for the French digital music group Believe BLV.PA, says a press release from the American major published on Saturday.
“Warner Music Group today announces that it has decided, after careful consideration, not to submit a binding offer for Believe,” WMG said.
A month ago, the American group confirmed that it had approached the French company at the end of February to begin discussions with a view to a potential merger.
On March 25, Believe invited Warner to “submit a binding, unconditional and fully financed offer for Believe” no later than April 7, 2024.
Believe also announced on February 12 that it had received a purchase offer from a consortium for all of its outstanding shares at a price of 15 euros per share, as part of a transaction valuing the French group. at around 1.52 billion euros. Warner Music Group offered a minimum of 17 euros per share.
(Jean-Stéphane Brosse)