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Russian Tycoon To Bid For Waterstone’s

Russian tycoon, Alexander Mamut, is set to make a £35 million offer for book chain, Waterstone.

Russian tycoon, Alexander Mamut, is set to make a £35 million offer for book chain, Waterstone’s, Financial Times reports. The company, which is being sold off by entertainment retailer, HMV, is valued at £50-75 million by analysts.

Mamut already holds a 6% stake in HMV. The retailer, which has a market capitalization of £45 million, is planning to close 60 stores as it is expected to end the year with net debt in excess of £130 million.

Click here for the story from Financial Times.

Click here for additional coverage from The Guardian.

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