Universal could be forced to sell off EMI labels in $1.9bn tie-up Universal will have to sell up to 60pc of EMI's businesses in Europe, according to some reports, although sources close to the group, owned by French conglomerate Vivendi, on Thursday insisted the final percentage is likely to be lower. Among the prize assets to be auctioned off will be most of the Parlophone label, whose artists include Blur, Coldplay, Tinie Tempah and Norah Jones. Crucially, the rights to the Beatles and Britain's iconic Virgin Records will remain under Universal's ownership but other EMI brands including Virgin Classics, Chrysalis and Ensign and Mute could be snapped up by rivals in an asset sale to be handled by Goldman Sachs. EMI's operations in several European countries including France, Spain, Sweden and Poland will also have to be offloaded as part of the final agreement with European regulators, it is understood. Universal declined to comment but music industry sources believe the severity of the final remedies package will likely raise eyebrows. Under the terms of the takeover agreement with EMI's previous owner Citigroup, Universal committed to paying the full $1.9bn regardless of whether it received regulatory approval. Several other countries including Japan and Canada have already given their consent to the deal but Universal faces another substantial hurdle in the US, where the takeover is still being looked at by the Federal Trade Commission.