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Guy Hands Blew It

MISHANDLED: It wasn’t so much the 2.4bn that Guy Hands spent to acquire EMI Music, which in itself vastly overrated the company at a time when private equity loans were just about to dry up, it’s how he bungled the deal after taking over. Insiders are saying that  Hands’ mismanagement  was largely responsible for the increasing mess the company found itself in, culminating in this morning’s takeover by Citigroup after Terra Firma failed to meet its loan covenants. (2/1p)

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