In his first interview since the announcement of the pending merger, the UMG boss told the Financial Times that he is "extremely open-minded about working with the [European Commission] in the context of behavioural remedies as well as divestitures."

Universal will increase A&R investment across its own labels and those of EMI, the FT reports. Grainge said that EMI had suffered "enormous" cuts in that area under Terra Firma.

He said Universal would increase investment "in different artists and genres ...