Univeral & EMI set to finalise deal

Universals bid of £1.2bn for EMI will be given the final approval by the European Commission this week. The deadline for the deal is currently set at 27 September.

The EC does have concerns with the sale however, with fears that the deal may lead to Universal being too powerful if purchasing the whole of EMI. Reports from the Sunday Times claim Universal will have to sell Parlophone records, host to Blur, Kylie Minogue and Coldplay, in order to appease commissioners.

Meetings will take place this week to approve the go-ahead for Universal buying EMI.

Potential buyers such as German media giant  Bertelsmann and indie label Mute are said to be interested if the opportunity arises.

A deal is expected to take place during a commissioners’ meeting on Thursday and a public announcement will be disclosed later in the month. If all votes are passed, the deal has the possibility of being completed as soon as September 19.


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