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HMV May Finalize Book Unit Sale to Mamut This Week, Times Says

HMV Plc may complete the sale of its Waterstone’s bookstore chain to Russian billionaire Alexander Mamut for 35 million pounds ($58 million) this week, the Sunday Times reported, without saying where it got the information.

That’s about half what HMV hoped to sell the business for, the newspaper said. Tim Waterstone, founder of the U.K. book chain, may work with Mamut if the bid is successful, according to the report.

Nick Cosgrove, an outside spokesman for the company, declined to comment in an e-mail.

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