Universal Music gets breathing space in £1.2bn EMI takeover

Parent company Vivendi must now pay for deal by November, giving it more time to win over European regulatorsUniversal Music has gained two months' more breathing space as it battles to persuade the European commission to approve its £1.2bn takeover of EMI.It had previously been thought that Universal's parent company Vivendi would have to hand over the £1.2bn to EMI owner Citigroup in September, 10 months after the deal was announced, regardless of whether the takeover had been cleared.Howeve...

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