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Is EMI In Deep Financial Trouble?

  • FACT: CitiBank holds the bulk of EMI's £2.5BN debt
  • FACT: EMI owner Terra Firma wants a $500 million write-off from Citi before it pumps another £300 million in much needed cash into the label group.
  • FACT: With quarterly reports due soon, Citi is expected to show itself to be in the weakest position of all major banks causing tighter scrutiny by regulators.

EMI Can a troubled bank under tight federal control (the U.S. government already owns more than 30%) just write of $500 million?  Can it afford not to?