Business Services Industry
EMI Remains in Danger of FTSE Delisting Despite Modest Rally.
Knight Ridder/Tribune Business News, August, 2002
By Geoff Foster, Daily Mail, London Knight Ridder/Tribune Business News
Aug. 30--Very vague takeover gossip and some bear closing helped EMI rally 3 1/2 pence. But the world's third largest music company and owner of the Virgin and Capitol record labels remains in danger of being booted out of the FTSE 100 index when the steering committee meets on September 11. Once part of the old ThornEMI, it was one of the original constituents of the FT Industrial 30 share index.
With a market value of only UKpound 1.35 billion and a share price trading at a 15-year low, EMI should be relegated. Long-suffering institutions, miffed at the stock's dismal performance over the past two years or so, want changes at the top.
Eric Nicoli, who was not...
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