Updating yesterday’s news about divestments in the wake of the Universal-EMI deal, Richard Branson may be part of a bid to acquire Virgin Records.

Branson founded Virgin Records in 1972 with Nik Powell. Virgin signed the Sex Pistols along with influencial prog-rock and new wave bands. Branson sold Virgin to EMI for about $1 billion to help support Virgin Atlantic Airways.

In an interview with the (pay-walled) Financial Times, Patrick Zelnik, the president of French label Naïve said that Branson would join him in a bid for Virgin’s European assets. “If Universal is ready to sell Virgin Records, then Richard Branson will support a transaction and support me in doing it. He wants Virgin to be in my hands,” said Zelnik, who started Virgin France with Branson in 1980.

While a Branson-helmed Virgin Records would be romantic, it might not amount to much. According to the New York Times, “it is unclear exactly what the asset would include. Many of the label’s acts are signed to Virgin in other countries like Britain and the United States.”