Hands' Regrets

HANDS POST-MORTEM: In an interview with an online private equity site, Guy Hands expressed sadness that Citigroup refused to come around to Terra Firma’s valuation of EMI Music, which would have paved the way to a restructuring of the music group’s debt load. His other regret? He feels that under Citi’s ownership, EMI is likely to be broken up and split into its two divisions: recorded music and music publishing. Terra Firma, says Hands, had supported the EMI management’s view that “maintaining a single entity made most sense.” The U.K. financier is resolved to steer clear of the same kind of high-profile deals, at least at present. Concluded Hands: “I think one EMI in one’s life is enough.” (3/7a)