Takeover move at EMI boosts shares

Takeover speculation involving music group EMI was reignited today after it said it had received an approach.

Shares in the company jumped 10% – valuing London-based EMI at more than £2.3bn (€3.4bn) – after a brief statement to confirm the takeover interest.

A report in the Financial Times said the company was in the sights of private equity groups, possibly the US buy-out giants Kohlberg Kravis Roberts and Goldman Sachs. It added that EMI chairman Eric Nicoli was involved in talks but that the matter was still at a very early stage.

The speculation comes four months after the collapse of a potential merger with Warner Music Group.

EMI is one of the four largest recorded music groups in world, with artists including Robbie Williams, Coldplay, Gorillaz and the Rolling Stones.