HMV

PLAN FOR HMV (ARE YOU LISTENING MR FO?!) -

SPLIT THE CO. INTO WATERSTONES AND HMV - TWO SEPERATE LISITINGS - ALLOWING A CLEARER VALUATION OF THE TWO AND A POTENTIAL 'CLEANER' TAKEOVER. GIVEN THE CRAZY VALUATION ON HMV CHAIN IT WOULD LIKELY RESULT IN AN IMMEDIATE 20% UPLIFT
SELL OFF THE OVERSEAS DIVISONS OF HMV (ASIA PAC AND CANADA) - LIKELY RAISING @ £120/130M. PAY A SPECIAL DIVI OF 20P WITH THE FUNDS.
IN THE SEPERATE HMV CO PURCHASE CDWOW OR PLAY.COM WITH CASH (THE COMBINED ENTITY COULD TAKE THE DEBT BURDEN), PARTICULARLY GIVEN THE PRODIGIOUS CASH FLOW AND RE-BRAND 'HMVPLAY OR HMV CDWOW'(?), THUS IMMEDIATELY TAKING OUT A COMPETITOR AND CONSOLIDATING THEIR MARKETSHARE.

OR ALTERNATIVELY, ALAN GILES WHO TURNED AWAY 210P COULD BACK AN MBO AT 220P!!!! ANY COMMENTS MR GILES?!!!