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Almunia: merged Universal/EMI market share under 40 percent in Europe
BRUSSELS |
BRUSSELS (Reuters) - A combined Universal Music Group and EMI will have a market share of less than 40 percent in Europe, the European Union's antitrust chief said on Friday, citing the threshold which typically fuels regulatory concerns over a dominant player.
"(The merged entity's) market share in the European Economic Area (would be) below 40 percent on average," EU Competition Commissioner Joaquin Almunia told a news briefing.
The European Commission had earlier on Friday cleared Universal Music Group's $1.9 billion bid for EMI's recorded music business after the Vivendi-owned company pledged to sell assets which generate about a third of EMI's revenues.
(Reporting by Foo Yun Chee; editing by Rex Merrifield)
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