Warner woos EMI ahead of EU competition ruling on merger

STRUGGLING music company EMI has confirmed that it received a fresh takeover approach from US rival Warner Music.

Ahead of a European competition ruling on a tie-up between music giants Sony and BMG, however, analysts said EMI acceptance of a Warner bid could lead to regulatory difficulties.

EMI, which has issued two profit warnings since mid-January, said there was as yet no firm proposal, and no certainty that the latest approach would lead to a formal offer.