Permira poised for €3.7bn EMI swoop

PRIVATE equity firm Permira was yesterday said to be ready to launch a £2.5 billion (€3.7bn) bid for music group EMI.

The Sunday Times said Permira could make an offer of 310p-a-share this week. Last week EMI said it received a preliminary approach which may or may not lead to an offer being made for the firm.

EMI is one of the four largest recorded music groups in world.