Blavatnik Walks Away from EMI Sale

Len Blavatnik's Warner Music Group, the frontrunner in the sale of music group EMI's assets, has walked away from the auction, Reuters reported Monday, citing a piece in the Financial Times. Blavatnik, whose Access Industries group bought Warner Music earlier this year, had looked set to win from Citigroup a $1.5 billion (939.3 million pounds) deal for EMI's labels which include Capitol and Virgin, Reuters wrote.

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