HMV 'still has edge'

<p>Waterstone's parent company HMV still has the edge over possible rival bidders for Ottakar's, analysts have said. The referral of the takeover to the Competition Commission delays the takeover by at least six months, but sources said HMV remained in "a better position than anyone else to pay up for Ottakar's, whatever the price".</p><p>The cash consideration payable under the terms of HMV's &#163;96.4m offer for Ottakar's was to be provided by HMV's existing bank facilities with the Royal Bank of Scotland. In March, HMV completed a refinancing of its senior bank facilities, creating a "m...

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