Reuters: Mergers News: Universal says expects EU regulators' objections to EMI deal

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Universal says expects EU regulators' objections to EMI deal Jun 8th 2012, 11:00 ST GALLEN, Switzerland, June 8 | Fri Jun 8, 2012 7:00am EDT ST GALLEN, Switzerland, June 8 (Reuters) - Universal Music said on Friday it expected EU regulators to set out their concerns about its bid for EMI's recorded music business and that it would work with them to get the deal cleared. "A statement of objections is part of the European Commission's usual due process when considering mergers and is expected," Universal, which is owned by Vivendi, said in a statement. "When we receive the statement, we will prepare a detailed response to the Commission which will address the concerns outlined in this procedural document. We will continue to work closely with the Commission and look forward to securing regulatory clearance." A senior EU Commission official said earlier on Friday that regulators were preparing to list their concerns about the deal in a "statement of objections" or charge sheet. Commission regulators have been conducting a full-scale investigation into the bid, citing concerns about the combined group's potential high market share and increased market power.

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