US bank lines up buyers for troubled EMI

A US bank is lining up potential buyers for EMI in a bid to put pressure on the indebted music firm’s owners to sell the company, it was reported today.

Citigroup, which is owed £2.6bn (€2.9bn) by EMI’s owners, is understood to have approached private equity firms in the US and Sweden, as well as US music company Warner Music over purchasing the group, according to the Observer.