In a terse press release, Warner Music Group (WMG) announced this weekend its decision not to submit a firm offer for Believe, a decision taken by the American music publishing giant 'after careful consideration'.

As a reminder, towards the end of March, the French digital music specialist had asked WMG to submit, by April 7 at the latest, a 'binding, unconditional and fully funded' offer.

At the beginning of March, WMG indicated that it was awaiting access to the due diligence information it considered essential to enable it to submit a formal proposal and confirm its indicative price of at least 17 euros per Believe share.

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