CHINA MOBILE, NOT TERRA FIRMA, TO PURCHASE EMI
AsiaInfo Services, July, 2007
AsiaInfo Services 07-27-2007 China Mobile, Not Terra Firma, to Purchase EMI BEIJING, Jul 27, 2007 (SinoCast via COMTEX) -- Renowned private equity Terra Firma announced in May this year that it plans to purchase EMI, the world's third largest music company, for GBP 3.2 billion. The targeted music group, which reportedly has accepted the offering, has urged its shareholders to agree with the deal. However, according to sources, it is China Mobile, the nation's largest mobile telecom operator, rather than private equity company that really wants to acquire the British music company. Sources revealed that the Chinese telecom giant also plans to purchase another one of the world's top five music companies through the hand of Terra Firma after the deal. The world's...
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