Vivendi Mulls Virgin Records Sale To Clinch EMI Deal - Report

Date : 07/15/2012 @ 9:56AM
Source : Dow Jones News
Stock : Citigroup, Inc. (C)
Quote : 59.59  1.87 (3.24%) @ 1:03PM

Vivendi Mulls Virgin Records Sale To Clinch EMI Deal - Report

Vivendi (EU:VIV)
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LONDON--Vivendi SA's (VIV.FR) Universal Music Group is mulling selling Virgin Records Ltd. to aid the regulatory approval of its GBP1.2 billion ($1.9 billion) takeover of EMI's (EMIG.YY) recorded music division from Citigroup Inc. (C), The Sunday Times, citing unnamed sources, and The Mail On Sunday, without citing sources, reported.

The Virgin sale will be part of a range of concessions that Universal will present to European Union competition regulators at a meeting this week, The Sunday Times said.

EU authorities have launched an in-depth probe into the deal, which would give Universal/EMI a 40% market share.

Universal was immediately unavailable for comment.

Newspaper Web site: http://www.timesonline.co.uk

Newspaper Web site: http://www.dailymail.co.uk

-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320





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