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Citi, UMG meeting?

EMI, ROUND BY ROUND: Citigroup and UMG are expected to return to the negotiating table today, Claire Atkinson reports in the N.Y. Post. But sources tell her that Universal is unlikely to increase its last bid of $1.2 billion for EMI’s recorded-music assets. Atkinson echoes the comments of our own I.B. Bad yesterday when she speculates that Citi may be putting word of the UMG meeting out there in an attempt to make Len Blavatnik jealous. She quotes one source close to the deal as asking, “Is it possible Citi will change their minds and say, ‘We’ll take the bid’? Sure, but it’s $400 million lower than Blavatnik’s.” (11/8a)

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