23 mar: Markedsoversigt: Aktier og renter tog endnu en tur nedad
30 mar: Valuta: Euro-skeptikerne slår bak
23-03-2012 18:54:00

UPDATE: EU Opens In-Depth Investigation Into Universal Buy Of EMI

Relateret indhold

--EU to investigate Universal takeover of EMI on competition grounds

--Universal says investigation was expected

--Decision expected by Aug. 8

(Updates with comment from Universal in the third paragraph)

By Frances Robinson and Matina Stevis

Of DOW JONES NEWSWIRES

BRUSSELS -(Dow Jones)- The European Commission's antitrust arm will look in detail at the proposed acquisition by Vivendi SA's (VIVEF, VIV.FR) Universal Music Group of EMI's recorded music business, under the second phase of its merger review process, it said Friday.

"The commission's initial market investigation indicated that the proposed transaction may raise competition concerns in the wholesale of physical and digital recorded music in numerous member states as well as in the European Economic Area as a whole, particularly in light of the merged entity's high market shares and increased market power," the commission said.

Universal, in a statement issued soon after the investigation announcement, said that "Phase II was always expected; we recognise that the Commission needs time to fully review this transaction" and pledged to "continue to co-operate fully with them and look forward to a successful resolution of the process."

The commission's competition arm now has 90 working days, until Aug. 8, to look into the planned $1.9 billion transaction, which would create a new entity with control of roughly 40% of the global recorded music market, according to some estimates. EMI is home to stars including Blur, Iron Maiden, The Beatles and Katy Perry.

The commission's vice president in charge of competition policy, Joaquin Almunia, said: "The proposed acquisition could reduce competition in the recorded music market to the detriment of European consumers. The commission needs to make sure that consumers continue to have access to a wide variety of music in different physical and digital formats at competitive conditions."

It can decide to allow the deal to go ahead, ask for Vivendi to make concessions such as disposals, or block it completely, as it did recently with Deutsche Boerse (DBOEF, DB1.XE) and NYSE Euronext's (NYX) proposed merger.

The initial investigation has already led those opposed to voice their concerns and lobby the commission.

Edgar Bronfman Jr., on his final day as chairman of Warner Music Group in January, said the deal is "problematic" and that "Warner is going to fight this tooth and nail." IMPALA, which represents independent music labels, has said it wants an "outright no" to the proposed tie-up, which would push up music prices.

Citigroup Inc. (C) agreed to split up and sell the legendary U.K. music company in November, having previously seized the company from former owner Terra Firma Capital. In a separate deal, it will sell the music publishing business to a consortium led by rival Sony/ATV for $2.2 billion.

-By Frances Robinson and Matina Stevis, Dow Jones Newswires; +32499646573; frances.robinson@dowjones.com

(END) Dow Jones Newswires

March 23, 2012 14:54 ET (18:54 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Sådan er det gået med de seneste danske børsnoteringer

30-05-2016 15:24:44
Dong Energys snarlige børsnotering kommer i kølvandet af blandet succes for de seneste års tilføjelser på fondsbørsen.For nogle selskaber - såsom ingredienssels..

Mærsk: CMA vil have resten af NOL-aktierne

30-05-2016 14:26:29
Containerrederiet CMA CGM vil nu have fat i de resterende aktier i Neptune Orient Lines (NOL).Franske CMA meddelte mandag, at man har fremsat et frivilligt tilb..

Aktier/middag: Genmab, TDC og Novo topper stille indeks

30-05-2016 11:39:21
I et overordentligt stille aktiemarked placerer Genmab-, Novo- og TDC-aktierne sig øverst i et tæt på passivt C20-indeks, der mandag middag ligger i 1052,54 ell..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/åbning: Biotekaktie i vildt drop - C20 Cap stiger
2
Aktier/tendens: Biotekaktie leverer skidt nyt i positivt marked
3
Dongs hængepartier kan koste milliarder - citat
4
Bioporto/CEO: Vi er ikke slået ud trods NGAL-skuffelse
5
Genmab: Får milepælsbetaling på 30 mio. USD for Darzalex-salg

Relaterede aktiekurser

Citigroup Inc 46,58 1,0% Stigning i aktiekurs
Vivendi 17,95 0,3% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
31. maj 2016 00:16:24
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160530.3 - EUROWEB1 - 2016-05-31 00:16:24 - 2016-05-31 00:16:24 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x