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Rumor: China Mobile Will Acquire EMI
July 30, 2007 |
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| Category: Business
Local media report that China Mobile (CHL) wants to acquire British music company EMI for GBP3.2 through Terra Firma, a private investment firm in Britain.
In May 2007, reports swirled that Terra Firma planned to buy EMI directly, but now it seems the deal was just a cloak under which China Mobile was working.
The reports say that EMI has tentatively accepted Terra Firma's acquisition proposal and has suggested its shareholders agree with this acquisition.
China Mobile has not made any comment on this news.
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