Citigroup (C.N), which got control of the world's fourth-largest record company EMI from British financier Guy Hands in February, plans to sell the company as a whole, the New York Post reported, citing sources. EMI Chief Executive Roger Faxon has been arguing for months that a breakup would hurt... Read more...
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30/04/2011,
by IAmNotARapperiSpit.com in Industry Rule #4080,
News,
Politics As Usual,
Technology,
World News
Terra Firma, the owner of EMI, is suing Citigroup, saying the bank "misrepresented fundamental facts" over the 2007 purchase of the record firm. The private equity company is accusing the bank, which brokered the sale, of falsely claiming that other bidders were in the frame. Terra Firma says it r... Read more...