Pershing Square's Ackman confirms sale of some of its UMG shares

PARIS (Reuters) - Pershing Square CEO Bill Ackman confirmed on Thursday his firm had sold some of its shares in Universal Music Group (UMG).

"We decided to sell a portion of our UMG position today," he wrote on X.

"UMG was our largest position going into the day at more than around 27% of our capital. After the sale, it will still be our largest position at about 17% of the portfolio," he said.

(Reporting by Sudip Kar-Gupta; Editing by Chris Reese)