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Mike Ashley steps into the frame for HMV

Sports Direct boss has apparently held talks with music and entertainment industry suppliers.

Sports Direct tycoon Mike Ashley has been discussing a rescue bid for HMV according to internet reports.

Sky News reported that he had held talks with key music and entertainment industry suppliers to HMV in the last fortnight with a view to acquiring the chain.

The news comes as administrators KPMG confirmed there had been a number of offers for HMV which it is now considering. It is thought that a preferred bidder will be decided upon by the end of this week.

As well as Sports Direct, Mike Ashley also has stakes in Debenhams and French Connection, while he also bought House of Fraser and Evans Cycles in pre-pack insolvency deals last year.

In addition, he is also a significant shareholder in video games retailer, Game, with Sky News speculating that he could pursue a move to merge it with HMV if his bid is accepted.

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