EU antitrust regulators are expected to set out their objections to Universal Music Group's $1.9 billion (€1.51 billion) bid for rival EMI's recorded music unit in the coming days, a person familiar with the matter said today.
A formal list of competition concerns could put pressure on Vivendi-owned Universal to come up with concessions such as selling off catalogues or offering licensing deals in order to get the deal cleared.
"The statement of objections could be sent by the end of the week or early next week," said the source, who declined to be identified because of the sensitivity of the matter.
The European Commission is examining the proposed takeover, which would bring together Universal's stars such as Lady Gaga and Rihanna with EMI's catalogue, which includes The Beatles and Pink Floyd.
A senior Commission official said last week that regulators were preparing a statement of objections which would list the possible anti-competitive effects the deal would have on rivals, artists and music-lovers.
Reuters
