What lies ahead for the new version of Waterstones

What lies ahead for the new version of Waterstones

Industry figures have outlined their hopes and fears for Waterstones following its acquisition by hedge fund Elliott Advisors last week.

The UK arm of American "activist" hedge fund Elliott Management took on a majority stake from Russian businessman Alexander Mamut, who bought the ailing Waterstones in 2011 and helped return it to profit.

Elliott is providing all the financing for the transaction, with the sale due to be completed this month. Waterstones m.d. James Daunt is set to remain at the helm. Mamut’s Lynwood Investments will retain a minority stake, but the percentage of the busi...

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