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EMI Up For Sale

Written by John Ritchie on June 21, 2011

Major Record label EMI has been offered for sale by current owners Citibank who have run the company for most of the year.

EMI Group Global released a statement saying: The company initiated a process to explore and evaluate potential strategic alternatives, including a possible sale, recapitalisation or initial public offering for the company.

The belief is that Citibank have planned to sell ever since taking it over from Guy Hands.

Warner Music are interested in buying the company; new owner Russian billionaire Len Blavatnik has said he is keen to merge the two.

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