Looks like the consortium led by Sony is going for the slam dunk. $2.2b to catapult them to number 1 in music publishing. And Universal is going to further entrench its position as number 1 in recorded music, which will definitely be a cause for concern.
The crux for a done-deal is the regulatory approval. I'm interested to hear what you guys think.
Link: EMI being sold.
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regulatory risk is entirely with the buyer so that's not really an issue, at least from citi's perspective
also, interesting to see UBS apparently stepping up big time on financing commitments for sony given all their talk about reducing risk in their investment bank
Yeah, I was referring to Universal & Sony gaining approval by regulators. Citi stands at the better end of the deal since they also get to secure their investment banking fees associated with the deal, even if it should fail.
Taking on more than $1b in financing is no laughing matter, especially in current market conditions. Talk about hypocrisy.
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