Abu Dhabi investment firm Mubadala helping Sony for EMI bid

Sony has reportedly secured financing from Abu Dhabi’s investment fund for EMI as second-round bids for the UK music company came in on Wednesday, according to be people close to Citibank’s $3.5 billion to $4 billion auction.

With Mubadala’s backing and the backing of investment bank Raine, Sony can better compete with other bidders that include Universal Music Group and Warner Music Group, the FT said.

Mubadala Development Company is listed in the Middle East Investors Directory with the code EM14