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V2 eyes indie top spot after huge equity deal. (News).
V2 has reiterated its aim of becoming the world's biggest independent record company, instantly wiping away its debt in a multi-million-dollar deal with Morgan Stanley.
The merchant banker is converting bonds it took in V2 in 1998 into a 47.5% equity stake, removing $128m (90m [pounds sterling]) of debt. In addition to the equity stake, set to he announced to the Stock Exchange tomorrow (Tuesday) ...
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