Universal's divestments related to its proposed £1.2bn ($1.9bn) purchase of EMI could be worth as much as £219m ($350m).
That's according to the New York Post, which claims that the music company may need to offload assets worth around a sixth of the asking price in order to win antitrust approval from EU regulators.
Assets currently rumoured to be on the chopping block include Parlophone - heavily linked with an interest from BMG - as well as Co-Op and EMI Classics.
The Post says that Sony and Warner are also interested in purchasing divested assets, alongside Ron Perelman, Richard Branson and indie label founders James Palumbo (Ministry Of Sound), Patrick Zelnick (Naive) and Daniel Miller (Mute).
Sources suggest that UMG has hired Goldman Sachs and Bank of America as advisers over the matter, whilst the Post claims that investment bank Allen & Co. is no longer in the label's corner.
Universal reportedly paid $1.75bn to EMI owner Citigroup on Friday (Sept. 7), representing the agreed-upon 90% downpayment on the deal.
A spokesman for Universal said: “There is growing recognition that Universal Music’s investment in EMI will create more opportunities for new and established artists, expand music output and support new digital services. We’re working closely with regulators and remain confident of securing approval."