GLONGHUI, April 7 | Warner Music Group said in a statement on Saturday that it will not submit an offer to acquire French digital music company Believe. Warner Music revealed last month that it plans to buy Believe at a price of at least 17 euros (about 18.42 US dollars) per share, with a valuation of 1.65 billion euros (about 1.79 billion US dollars), which is higher than the acquisition offer made earlier by a consortium. The consortium formed by the largest shareholder of Believe Inc. offered the company a purchase price of 15 euros per share, valuing it at around 1.52 billion euros. The offer was supported by the company's board of directors. Believe said in a statement it will review the situation with all parties involved to determine next steps relating to the possible evolution of the company's control. Believe is the headquarters for music brands such as TuneCore, Naive, and Nuclear Blast, and works with musicians and music labels to help them build brands through social media and place their work on streaming music platforms.