Russian tycoon Alexander Mamut has taken a stake in entertainment group HMV, it has emerged.
Mamut, who has pulled off a string of deals in his homeland, including the acquisition and sale of the country’s biggest handset retailer, controls 3% of HMV a regulatory disclosure revealed.
Arden Partners analyst nick Bubb described Mamut’s interest as “unexpected but welcome” because it highlights HMV’s “valuation anomaly”.
He said: “HMV is priced to fail in three years but the management strategy to turn it into an entertainment superbrand may yet succeed.
“An investment of £5m is chicken-feed to Mamut at this stage, but his ultimate intentions are unclear. He does know a lot about the internet and digital space and may feel that HMV’s investments in this area, plus the live music operations, are under-recognised.”
As well as eponymous music stores, HMV owns the Waterstones books chain.
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