Universal has been told by the European Comission that it must sell the global rights to Parlophone if its £1.2 billion acquisition of EMI Music is to be approved by regulators, according to a report.

The Daily Mail says that the demand was made in a meeting on Friday afternoon and that Universal was told it had to sell nearly a quarter of EMI (worth around £300 million).

In a memo passed to Music Week in July, Roger Faxon outlined ...