EU probe into Universal bid for EMI recorded music

EU antitrust regulators opened an indepth investigation yesterday into a bid by Vivendi’s Universal Music to buy EMI’s recorded music unit for $1.9bn (€1.4bn), saying the proposed deal could reduce competition to the detriment of consumers.

Universal decided not to offer concessions to the EU watchdog during its preliminary assessment of the deal, but would consider doing so in the second phase of the review, a person familiar with the matter told Reuters last week.

The European Commission said it was concerned about the combined entity’s high market share, almost twice the size of its nearest rival in Europe, and increased market power.