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HMV shareholder asks bankers to review firm’s options

By | Published on Friday 4 February 2011


Alexander Mamut, the business man who has been buying up shares in HMV of late, has reportedly hired consultants from investment bank Credit Suisse to advise him on options for the retail and entertainment group, which issued a profit warning earlier this year after disappointing pre-Christmas sales. Some commentators reckon the bankers will recommend selling off part of the HMV business, most likely the Waterstones chain, to raise cash.

Of course, the immediate future of HMV is not in Mamut’s control – he only owns 6% of the company. However, he’s an increasingly influential shareholder, and it is thought the results of the Credit Suisse review will impact on to what extent he throws his support behind the current management team at the firm, led by CEO Simon Fox.