Vivendi Still Bullish on UMG-EMI

VIVENDI STILL BULLISH ON UMG-EMI: With the recent departure of Vivendi Chief Executive Jean Bernard-Levy, Chairman Jean-Rene Fourtou has taken a prominent role in supporting UMG’s acquisition of EMI. “Mr. Fourtou is committed to Universal’s strategic ambitions,” Levy e-mailed employees in a correspondence reported by Bloomberg. A subsequent Financial Times story indicates Fourtou is taking a lead role in persuading regulators to approve the deal. UMG late last week responded to the European Union’s list of objections to the proposed merger, with a decision expected as early as this week. Last week, Sony/ATV’s acquisition of EMI Music Publishing was apporoved by the U.S. Federal Trade Commission after getting an EU OK. (7/9a)