25 Mar '11, 12pm

#singnews HMV exploring options for book chain: LONDON - FINANCIALLY troubled music and books retaile... #worldnews

LONDON - FINANCIALLY troubled music and books retailer HMV says it is exploring options for its Waterstone's bookstores and its Canadian business. The company gave no details about what the options were, but said on Friday there were no discussion about an offer for the whole group. Investors cheered the news, sending the company's share price up 9 per cent. Reports suggest that Waterstone's founder, Tim Waterstone, and Russian billionaire Alexander Mamut are interested in the book chain. HMV is fighting for its life after revealing earlier this month that it would not meet all the conditions of its bank facility agreement - which includes loans and overdraft deals - when it reports its results for the year ending in April. -- AP

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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