HMV Is In Talks to Sell Its Stake In Music Service 7digital, Sky News Says

HMV Group Plc (HMV) is in talks to sell its stake in music service 7digital, Sky News reported, citing people close to the company it didn’t name.

The U.K. retailer is in talks with several prospective buyers, which are thought to be technology companies, Sky said. A deal is still “some way off,” according to the news service.

HMV may choose to reduce its shareholding in 7digital without selling the asset entirely, Sky said, citing the unidentified people close to the company.

To contact the reporter on this story: Karen Eeuwens in London keeuwens@bloomberg.net.

To contact the editor responsible for this story: Francisco Marcelino at mdeoliveira@bloomberg.net.

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