Russian billionaire to buy Waterstones from HMV

20 May 2011

waterstone_203x150 Waterstones is about to be Abramoviched! The book chain is set to fall into the hands of Russian billionaire Alexander Mamut after a £53m deal was conditionally agreed.

HMV’s financial woes could be slightly alleviated after the deal, with A&NN Capital Fund Management (a trust controlled by Mamut) is approved by HMV’s shareholders, something that they believe will happen in June.

It remains to be seen if Mamut will follow in the footsteps of Chelsea FC owner Roman Abramovich and use his financial muscle to sign up some of the world’s top literary talent in a bid for glory and trophies.

If he does, you might expect to see top authors like Martin Amis, JK Rowling, James Patterson and Julia Donaldson stacking shelves in your local Waterstones branch before long.

3 comments

  • Delenn
    This is good news for Waterstone's and good news for HMV. The fact the new CEO of Waterstone's is a successful bookseller (although on a smaller scale it has to be said) and they have already announced their intention to focus on books and bookselling can only be a good thing. Sure, there will be shrinkage in the retail space, but underneath the junk, there is a decent longer term bookselling model. Good luck to them. Now, the same focus needs to happen with HMV. Trying stocking stuff people want to buy folks.
  • Marketing W.
    High Street book retailing is all but finished. He'd make more money by knocking the stores down and turning them into car parks.
  • retail s.
    wonderful post, very informative. I'm wondering why the opposite specialists of this sector do not understand this. You must proceed your writing. I'm confident, you've a huge readers' base already!

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment