HMV’s stock rises amid takeover talk
Shares in HMV rose sharply on Friday amid speculation that it had received a bid for its bookshop chain Waterstone’s from a Russian billionaire.
The shares rose at much as 12.5% after the Financial Times reported Alexander Mamut had made a £43m cash offer for the 300-outlet book chain.
He already owns 6% of HMV, which has issued a string of profits warnings.
The retailer said last month that it expected profits to be about 25% lower than it had hoped.
HMV’s representatives would not comment on the report.