Stock in EMI Group lifted in morning trading today (April 24) in the wake of weekend reports which suggested the music major was poised to re-enter merger talks with Warner Music Group.

Stock in EMI Group lifted in morning trading today (April 24) in the wake of weekend reports which suggested the music major was poised to re-enter merger talks with Warner Music Group.

EMI's shareprice was up 6.74% to £2.97 ($5.29), a 52-week high, on the London Stock Exchange. More than double the average daily volume of 11.389 million shares changed hands in the morning trade.

According to a Sunday Times report, EMI has briefed Citigroup and UBS to advise it on a pact, while Warner Music has lined up Goldman Sachs and Lehman Brothers.

Representatives from EMI and Warner Music today declined to comment.

Speculation on an EMI/Warner Music union has cropped up frequently since the two companies initially attempted to amalgamate in 1999. Those plans were scrapped when it became apparent that the deal would not bear up to scrutiny from the European Commission's competition department. Another attempt was launched in 2003, but also came to nothing.

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