Citi's EMI Sale To Blavatnik On Hold?

Len Blavatnik: Walking away from EMI?

It seems the music has stopped for EMI and Len Blavatnik–at least for now.

Earlier today, the Financial Times reported that the Soviet-born billionaire had walked away from the auction for the troubled record label. As recently as Friday, it seemed that his Access Industries, which purchased Warner Music Group earlier this year, was on the verge of buying the company's recorded music division from Citi Group for about $1.5 billion.

Blavatnik's bid appeared t...