Ackman has sold all his shares after failing to acquire Universal Music

Glonghui, June 5 — The American hedge fund manager known as the "Wolf of Wall Street," Ackman, has failed to acquire Universal Music and has now sold all his holdings in Universal Music. Universal Music announced that it has repurchased more than 14 million shares from various funds managed by Ackman's Pershing Square Capital Management, at €17.66 per share, totaling €250 million. The company stated that this share buyback did not use funds from the existing €500 million share repurchase program, but rather from the additional €500 million repurchase plan approved by the shareholders' meeting last month.