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12/05/2006
HMV gets go-ahead to make fresh bid for Ottakar's
The Competition Commission has cleared the way for HMV to make a fresh bid for bookseller's Ottakar's.
The Competition Commission ruled that a merger would not lead to a "substantial lessening of competition".
HMV, which also owns the Waterstone's book chain, launched a £96.4 million offer for Ottakar's last year.
However, the offer lapsed when the deal was referred to the Competition Commission.
Ottakar's have welcomed the decision, but HMV has not said whether or not it will renew its offer.
Earlier this year, HMV rejected an offer from Waterstone's founder, Tim Waterstone, to buy back the business.
(KMcA)
The Competition Commission ruled that a merger would not lead to a "substantial lessening of competition".
HMV, which also owns the Waterstone's book chain, launched a £96.4 million offer for Ottakar's last year.
However, the offer lapsed when the deal was referred to the Competition Commission.
Ottakar's have welcomed the decision, but HMV has not said whether or not it will renew its offer.
Earlier this year, HMV rejected an offer from Waterstone's founder, Tim Waterstone, to buy back the business.
(KMcA)
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