Warners may still make another bid for EMI

Terra Firma said EMI shareholders now had until 19 July to decide whether to accept the 265p-per-share offer.

Terra Firma said that 3.82% of EMI shareholders had so far accepted the offer. Investors are thought to be waiting to see if a rival bid is made.

Last month, Warner Music said it had not yet ruled out making another attempt to buy EMI.

Warner, which had an earlier offer rejected, said that it was continuing "actively to consider an offer" for the UK music group.