China Mobile says it not involved in Terra Firma bid for EMI |
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Published
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Mon, 30 Jul 2007 10:02
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HONG KONG (XFN-ASIA) - China Mobile Ltd denied a mainland media report that suggested that the company is involved in European private equity firm Terra Firma's bid for British music company EMI Group PLC.'We haven't heard of any such deal,' a spokeswoman for the Hong Kong-listed firm said.'CMCC (China Mobile Communications Corp), as far as we know, hasn't been involved in such a deal either,' she said, referring to China Mobile's corporate parent in mainland China.She made the remarks when asked to comment on a report in China's National Business Daily that China Mobile is expected to acquire EMI for 3.2 bln stg through Terra Firma.Terra Firma has extended its offer for EMI to Wednesday. The offer previously had a Sunday deadline.The private equity firm's offer requires 90 pct acceptance. Terra Firma has said it has received valid acceptances for 688.96 mln shares, representing a stake of around 84.94 pct.leonora.walet@xfn.com-xfnlwm/xfnrc/xfnwkCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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China Mobile Corp expected to buy EMI - report 