EMI, the global music group whose artists include Coldplay and Robbie Williams, is tipped for a sale after receiving a preliminary takeover approach from an un-named party.

Analysts believe that the private equity groups Permira and Apollo are likely to be behind the approach, and there have also been reports of interest from Goldman Sachs and Kohlberg Kravis Roberts, sparking predictions of a bidding war.

In July this year, EMI abandoned a £2.5m merger with Warner Music in the light of competition rulings over Sony Music and BMG Publishing. Some sources believe that Warner Music could yet emerge as a potential bidder.

Any private equity bid would have to rival the earlier Warner offer, with estimates that EMI would reject anything below 350-pence-per-share.