HMV to hold over talks over Waterstone's "sale"

HMV to hold over talks over Waterstone's "sale"

HMV will hold talks this week with Russian investor Alexander Mamut over a possible sale of Waterstone's.

The Mail on Sunday reports the entertainment retailer will use a sale of the book chain to reduce debt and help HMV Group c.e.o. Simon Fox fund a turnaround plan for the music stores.

Sources told the newspaper the chain is likely to be sold for £70m, rather than the £100m previously valued. The meeting is believed to be taking place in London.