Waterstone's store
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Russian billionaire to buy Waterstone's for £53m

A buyer has been found for the ailing book retailer Waterstone's.

Its current owner HMV says it will sell the bookshop chain for £53m to the Russian billionaire Alexander Mamut.

The sale comes as HMV reports a 13.7% slump in sales.

Ben Thompson reports.

  • 20 May 2011
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