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 Posted By: Jim Liddane on: 05/12/2010 08:31:18 EDTSubject: RE: The Who - I Can't Explain - 1965 |
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John wrote... Two million? Ouch! Jim replied.... No - not two million, but two BILLION. Now that's a real ouch! Anyway, looking over this morning's news - you will find this of interest.... "According to the Wall Street Journal, Terra Firma top man Gary 'the Guy' Hands has got the all-clear from enough of his investors to bail out EMI once again, meaning Citigroup are not now likely to seize ownership of the major next month and put it up for sale. As much previously reported, EMI must pay over £100 million in loan fees to the US bank next month, and must demonstrate how it will do so this week. As EMI has no money, that required owners Terra Firma to find the cash. Management there also needed to get 75% of their investors to OK them transferring yet more money over to the music firm, even though that means pumping yet more cash into the equity group's most disastrous of acquisitions". So get your bid ready!
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