Alexander Mamut buys Waterstone's for ?53 mln

On May, 20, the board of directors of HMV, the struggling music, books and games retailer, has agreed to sell its Waterstone's bookchain to Russian billionaire Alexander Mamut for ?53m. Mr Mamut also has a 6.7pc stake in HMV. The deal is expected to close by the end of June, 2011.