They have also requested financial information from Universal Music - the record label which released a Boomtown Rats greatest hits compilation and re-mastered versions of their six studio albums earlier this year.

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In June it entered into a joint venture with Universal Music Group to create a new label, Desi Hits Universal, fully funded by the record label giant.

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Universal Music Group is the world's leading music company with wholly owned record operations or licensees in 77 countries.

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The union, which puts artists ranging from Aerosmith to Britney Spears all under one roof, made Sony BMG the No. 2 record company in the world, just behind Vivendi 's Universal Music Group .

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Despite the potential for objections from lawmakers, Warner is the third-largest record company and would likely face less resistance than No. 1 Universal Music Group or No. 2 Sony over a bid for No. 4 EMI.

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