LONDON (AP) — Games, books and music retailer HMV is reportedly weighing a bid on entertainment investment vehicle MAMA Group PLC.
HMV's interest comes after MAMA rejected a $61 million dollar bid from its largest shareholder, investment group SMS Finance, as too low.
The street also seemed to expect a stronger bid for MAMA and the firm's share price was up by more than 7% on Thursday while HMV's share price remained flat.
HMV is already vested in MAMA to the tune of $29 million after the two companies pacted on a joint venture in January over the newly-established Mean Fiddler Group Ltd, which owns 11 UK venues, including the Hammersmith Apollo, Reuters reported. – CelebrityAccess Staff Writers