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Acquisition of Ottakar's completed by HMV.

M2 BEST BOOKS-(C)2000-2006 M2 COMMUNICATIONS LTD

The acquisition of bookseller Ottakar's by HMV has been completed after the company received acceptances representing approximately 79.2% of Ottakar's capital by Friday (30 June).

The HMV Group also owns the chain of HMV music stores and the Waterstone's bookshops.

HMV said on Monday (3 July) that its recommended offer for Ottakar's was unconditional in all respects.

Gerry Johnson, managing director of Waterstone's, stated: "This has been a long and drawn out process for everyone in our industry. We are now in the fortunate position of being able to put all of that behind us and focus on building a truly exceptional high street bookseller."
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Publication:M2 Best Books
Geographic Code:4EUUK
Date:Jul 4, 2006
Words:114
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