China Mobile said to be behind bid for EMI

CHINESE MEDIA reports that China Mobile is behind moves to acquire British music company EMI.

A report on China Tech News states that China Mobile is behind private equity firm Terra Firma's attempts to buy up the company.

Terra Firma offered some £2.4 billion for the outfit earlier in the year. Initially, the deal had to be accepted by shareholders by yesterday but Terra Firma has since extended the deadline until Wednesday.

Some reports have it that almost 85 per cent of the company has committed to Terra Firma. The outfit need a 90 per cent commitment for the deal to be done, apparently. µ

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