From the Hollywood Reporter:
Universal Music Group’s bid to acquire part of EMI has entered its final phase of regulatory review in Europe, but while UMG parent Vivendi confirmed a first payment required under the deal, the status of European regulators’ thinking about it remained unclear on Monday.
And, from Hypebot, word on what Universal will have to proactively divest in order to move forward:
As the Universal Music / EMI deal enters its final phase of regulatory review in Europe, it has been reported that the European Commission will require Universal to sell the global rights to EMI’s leading music label Parlophone, which houses top talent including Coldplay and Kylie Minogue. (UMG will likely be able to retain the global rights to The Beatles). This would mean that Universal would be required to sell a quarter of EMI (worth approx. £300 million) in order to be allowed to purchase the remainder for £1.2 billion.Universal has said it will sell some assets, but not offered specifics publicly.