Former EMI boss linked to takeover

EMI’s former chief executive Jim Fifield was today reported to be planning a counterbid for the beleaguered music label, just days after Terra Firma unveiled an agreed offer for the firm.

US-based Mr Fifield, who quit the group in 1998, is said by the New York Post to be in the final stages of preparing a rival bid of around 278p-a-share, with the backing of private equity firm Corvus Capital.