Waterstone’s sold for £53 million

Not exactly a scoop, as I just heard it second hand from someone who heard it on Radio 4, but Waterstone’s has been sold by HMV to Russian billionaire Alexander Mamut. James Daunt (of Daunt’s Books) is going to be installed as MD.

Here’s the article in the Bookseller:

http://www.thebookseller.com/news/waterstones-sold-alexander-mamut-£53m.html

I have no idea whether or not this is a good price for a national chain (it seems a little low), but at least it’s more that the £43 million that was being quoted last week. It remains to be seen what effect this will have on the running of the shops, something that will only really become apparent months from now. I’ll continue to write about it though, as and when more information becomes available.

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