Virgin Records could be sold in Universal Music deal French company Universal, currently the world's largest music publisher, is expected to present a plan to hive-off Virgin Records this week to the EU in order to avoid a level of market dominance that would halt its takeover bid, reports the Daily Mail this morning. Reuters reported this week that the EU had told Universal, which is owned by Vivendi, that its plan to buy EMI could significantly impede competition and possibly trigger a veto. Europe feared it "could reduce competition in the recorded music market to the detriment of European consumers," and is due to deliver its verdict on August 8. The EU has been investigating the deal since February and had given the record company a July deadline to reply to a 194 page statement of objections sent last month. Chief executive of Universal, Lucian Grainge, told the Financial Times this week: "I'm extremely open-minded about working with the Commission in the context of behavioural remedies as well as divestitures." The company is reported to have as many as 20 buyers waiting in the wings for other assets that would be sold-off after the deal. Universal has signed a deal with EMI's American owner, investment bank Citigroup, to pay £1.2bn for the company, with a clause to make up any future purchase price by a third party to the same amount should the sale fall through.