SoftBank Corp. made an $8.5 billion bid for Vivendi SA’s Universal Music Group that was rejected by the French media company earlier this year, according to people with knowledge of the proposal.
Directors at Paris-based Vivendi turned down SoftBank shortly after the inquiry was made, said the people, who asked not to be identified because board deliberations are private. A deal would have handed the world’s biggest record company to the Tokyo-based carrier that founder and billionaire Masayoshi Son wants to turn into the world’s largest mobile operator.
