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Last Updated: Wednesday, 23 November 2005, 18:36 GMT
EMI shares surge 10% on bid talk
Chris Martin of Coldplay
Sales of Coldplay's new album X&Y have boosted EMI's profits
Shares in EMI have risen 10% on speculation that the world's third largest record company is being stalked by a potential bidder.

At a closing price of 242 pence, EMI is now valued at about 2bn.

One possible suitor could be Warner Music, the rival record company which UK-based EMI tried to buy with a 1bn bid at the end of 2003.

EMI, whose roster of artists includes Robbie Williams, Coldplay and Gorillaz, refused to comment.

Reports suggest Universal owner Vivendi could also be eyeing the music firm.

Earlier in November EMI said that operating profits for the six months to the end of September had risen by 12% to 87m.

The world's third largest record company said that a gradual decline in sales of recorded music was increasingly being offset by a rapid growth in revenues from music downloads, which tripled during the period.


SEE ALSO:
EMI on track for strong profits
17 Oct 05 |  Business
Album delays hit profits at EMI
24 May 05 |  Business
EMI shares hit by profit warning
07 Feb 05 |  Business
Warner bidding battle nears climax
21 Nov 03 |  Business


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