Former EMI chief executive Jim Fifield yesterday kept alive speculation that he might gatecrash an agreed $2.4 billion (€1.78 billion) takeover of the music giant.

Mr Fifield said he remained interested in a potential offer, even though his private-equity partner Corvus Capital said on Wednesday it had walked away. At the start of this week, EMI backed an offer tabled by financier Guy Hands's private-equity outfit, Terra Firma.

The New York Post later reported Corvus was working on a proposal with Mr Fifield, who quit the group in 1998. Mr Fifield yesterday distanced himself from the announcement by Corvus that it was no longer interested.

He said in a statement: "Jim Fifield and Corvus Capital wish to clarify that it was not the intention for him to be held to the terms of that announcement and Jim Fifield therefore wishes to confirm that he remains interested in potentially making an offer for EMI. There is no certainty that an offer will be made or as to the terms on which any offer might be made."

Mr Fifield is also rumoured to have been working on a bid earlier this year with the Qatari royal family, but reportedly walked away in February just before EMI issued a profits warning. Analysts expect EMI, which boasts stars like Robbie Williams, Kylie and Joss Stone, could still be the subject of a bid battle.

Rival label and long-time suitor Warner Music is thought to still be in the running, having been the favourite to buy the group after EMI opened its books to potential buyers last week.

Warner, which repeatedly tried to merge with EMI last year, put forward a conditional proposal for 260p a share earlier this year, which was rebuffed.

A number of other private-equity groups are also thought to be in the frame, with US firms Cerberus, Fortress and One Equity all reportedly interested. - (PA)