EU reviews £1.2bn EMI bid by Videndi

COMPETITION regulators at the European Union (EU) yesterday launched an in-depth investigation into Vivendi’s $1.9 billion (£1.2bn) bid to buy EMI’s recorded music unit.

The EU claimed the proposed deal could reduce competition to the detriment of consumers. The move had been expected after Vivendi decided not to offer concessions to the watchdog during its preliminary assessment of the deal, but would consider doing so in the second phase of the review. The European Commission said it will make a decision in August.