08:27
News Health Technology sports
Warner Music Group’s owner, Len Blavatnik, is considering dropping his bid for EMI Group Ltd.
because Citigroup Inc. (C) is taking too long to choose a buyer, a
person with knowledge of the bidding process said.
Blavatnik has told people involved in the auction that he may drop his offer in several days, said the person, who requested anonymity because the negotiations are private.
The billionaire investor wants Citigroup to decide whether to sell London-based EMI, the record label of Coldplay and Katy Perry, as a whole or in pieces, said the person. Blavatnik is also concerned about EMI pension liabilities and tax issues, the person said.
Alejandro Moreno, general counsel for Blavatnik’s New York- based Access Industries, declined to comment, as did Dylan Jones, a New York-based spokesman for EMI. Mark Costiglio, a spokesman for Citigroup, also declined to comment. Full Read
Blavatnik has told people involved in the auction that he may drop his offer in several days, said the person, who requested anonymity because the negotiations are private.
The billionaire investor wants Citigroup to decide whether to sell London-based EMI, the record label of Coldplay and Katy Perry, as a whole or in pieces, said the person. Blavatnik is also concerned about EMI pension liabilities and tax issues, the person said.
Alejandro Moreno, general counsel for Blavatnik’s New York- based Access Industries, declined to comment, as did Dylan Jones, a New York-based spokesman for EMI. Mark Costiglio, a spokesman for Citigroup, also declined to comment. Full Read
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