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City File: Stony for EMI

CRITICS of Thorn EMI's pounds 560m purchase of Virgin Music Group have found another strand to the argument that Sir Colin Southgate's group paid too much for the business.

Bill Wyman, the bass guitarist of the Rolling Stones, has announced his retirement from the group, which was signed by Virgin for a reputed pounds 50m last year. While he is being replaced, all the band members are a bit old for rock 'n' roll, and the Stones might not now be worth Virgin's investment. Thorn shares fell by 3p to 860p on Friday.