EU set to probe Universal’s planned acquisition of Downtown Music, FT reports

(Reuters) -The European Commission is set to investigate Universal Music Group’s planned $775 million acquisition of independent music services company Downtown Music amid claims the deal will give too much power to the industry’s largest player, the Financial Times reported on Thursday.

Brussels will announce the probe into the deal on Friday, the FT report said, citing officials briefed on the preparations.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Devika Syamnath)