Warner Music Group's £487 million acquisition of Parlophone Label Group has this morning been fully approved by European regulators.

The decision is effectively the final global approval Warner required in the West, after the deal was approved in the US and Brazil last month. Warner owner Access Industries outbid rivals such as BMG and Sony to the deal in February.

Previously owned by EMI Music, PLG was a forced divestment from Universal Music Group's (UMG) £1.2bn acquisition of its ...