Universal Music Group's bid to acquire part of EMI has entered its final phase of regulatory review in Europe.
Yesterday, reports said Universal has been told by the European Commission that it must sell the global rights to Parlophone, the status of which is still unclear.
Executives at Vivendi, the owner of UMG, recently reiterated that they expected the EU to approve the $1.9 billion deal later this month with conditions. The U.S. regulatory review is also expected to wrap up soon.
Meanwhile, Friday's European regulatory discussion saw an advisory committee comprised of representatives of the EU states make recommendations on the proposed deal. Based on that, the EU Commission must make its final decision by September 27.
Source: Billboard
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