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Old 05-20-2011, 04:55 AM   #1
HarryT
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HMV to sell Waterstones to Russian billionaire

From the BBC:

Quote:
HMV has agreed to sell its Waterstone's book chain to a fund controlled by Russian billionaire Alexander Mamut for £53m.

Mr Mamut already owns 6% of HMV, which has issued a string of profits warnings this year.

The sale to A&NN Capital Fund Management still needs shareholder approval, but HMV said the deal should be finalised by the end of June.
For those unfamiliar with them, Waterstones are THE dominant chain of book shops in the UK, with a presence in almost every high street.

Full story at:

http://www.bbc.co.uk/news/business-13466179
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