Sony Secures Abu Dhabi Funds for EMI Bid

Sony Corp. has secured backing from Abu Dhabi's Mubadala fund and investment bank Raine to help fund its bid for British music company EMI, Reuters reported Thursday, citing news from the Financial Times. Sony will compete with bidders including Universal Music Group and Warner Music Group. Citigroup is seeking $3 billion to $3.5 billion for EMI, Reuters wrote.

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