The Commission decided on 14 June to open a full, second-stage investigation under the 1989 EU Merger Regulation into the proposed link-up between Time Warner and the EMI Group. The focus of the investigation is likely to be on recorded music, music publishing, as well as digital delivery of music via the Internet.* Impala brings together more than 400 independent labels from Europe and third countries
Intel legal spokesperson, Chuck Malloy, said that four years ago the EMI Group North America, which Intel describes as a shell company, bought a patent portfolio and attempted to prove that Intel was infringing its patents.
Sir Colin said: "The EMI Group made a substantial gain on the transaction of pounds 235 million, although we only recognised 55 per cent of this since we retained a 45 per cent stake in HMV Media Group."
Whispers of a counter-bid for the EMI Group surfaced again during the weekend - but core shareholders look set to remain loyal to the British music group's agreed merger with Warner Music in a vote today.