HMV considering Waterstone’s sale

London: The sale of bookseller Waterstone’s moved a step closer yesterday when HMV confirmed it was exploring options for the chain.

The company, which owns 731 HMV, Waterstone’s and Fopp stores, said no discussions were taking place about an offer for the whole group.

HMV is reported to be considering selling the book chain after lenders said it needed to raise £75 million (€85m) in return for a relaxation of its lending covenants.