Update: HMV Ponders Bid On MAMA Group

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

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