Reuters: Regulatory News: No EU oral hearing for Universal/EMI deal - source

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No EU oral hearing for Universal/EMI deal - source Jul 5th 2012, 09:36 BRUSSELS, July 5 | Thu Jul 5, 2012 5:36am EDT BRUSSELS, July 5 (Reuters) - Universal Music will not seek an oral hearing with EU regulators but will rely on bilateral meetings and written submissions to allay competition concerns about its planned buy of an EMI unit, a person familiar with the matter said on Thursday. "The feeling is that an oral debate is not the best place for complex and detailed discussions and analysis of the deal," the source said. "It was felt that this would be best served through written submissions and meeting with the competition authorities," the source said, speaking on condition of anonymity because of the sensitivity of the deal. The European Commission, which acts as competition regulator in the 27-member European Union, has been examining the $1.9 billion deal since February. It has warned Universal, owned by Vivendi, that the deal would significantly impeded competition.

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