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HMV responds to MAMA sale speculation, sort of

By | Published on Friday 16 March 2012


HMV put out a statement to the London Stock Exchange yesterday in response to this week’s speculation about the sale of the retailer’s live division, the MAMA Group.

As previously reported, the Independent said earlier this week that the sale of MAMA had now entered its second stage, after first round bids were submitted earlier this month. The paper added that AEG Live had been asked to make a second refined bid, while it was thought the Academy Music Group and Oakley Capital had also made first round offers.

HMV’s statement to the markets did a good job of saying nothing, though it did confirm that what it called a ‘strategic review’ (aka the sale) was ongoing, but that no one outcome was more likely than another just yet.

Or in HMV’s words: “HMV Group plc notes the recent press speculation regarding the strategic review of the HMV Live business. HMV can confirm that this review remains ongoing and that a number of parties have indicated an interest in acquiring the business. At this stage, there can be no certainty that any transaction will be concluded and a further announcement will be made as and when appropriate”.