BRUSSELS (Reuters) -EU antitrust regulators are set to open a full-scale investigation into Universal Music Group unit Virgin Music Group’s $775 million acquisition of Downtown Music because of concerns about its impact on competition, people with direct knowledge of the matter said.
Virgin had until Tuesday to offer remedies to address regulatory worries during the deal’s review but did not provide them, according to an update on the European Commission website.
(Reporting by Foo Yun CheeEditing by Tomasz Janowski)
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