The European Commission told Universal Music Group that its proposed acquisition of EMI Music would significantly hurt competition, Reuters reported Tuesday, citing three people familiar with the matter.

Tuesday was the deadline for Universal to reply to the commission's concerns, which were detailed in a statement sent last month, the report said.

Full story at http://www.reuters.com/article/2012/07/03/us-emi-universal-eu-idUSBRE8620BN20120703

Write to nymonitoring@dowjones.com