UBS Investment Bank is poised to collect mergers and acquisitions fees from client EMI, after the music group confirmed its discussions to acquire Warner Music Group.

EMI said in a statement that it had entered non-exclusive discussions with Time Warner of the US about linking up with its Warner Music Group division. However, EMI said the discussions are at "a very preliminary stage" and that the deal could still fall through. The two companies first held discussions in 2000.