Global Equity Research International First to Market 10 June 2026 Top Stories AFL | UMG & Vivendi (Daniel Kerven), Netherlands, France UMG … a hairy peach UMG is a peach of an asset. However, it has a lot of hair on it. The "hair" is frustrating for existing shareholders, but in our view represents an opportunity for those on the sidelines. The peach continues to get bigger and juicier each year given secular growth, Streaming 2.0 and AI, and in 12 months there should be a lot less hair on it … making it a ...