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Page last updated at 07:29 GMT, Saturday, 21 May 2011 08:29 UK

'Confident' new plans for Waterstone's

Troubled retailer HMV has agreed to sell its Waterstone's book chain to a fund controlled by Russian billionaire Alexander Mamut for £53m.

James Daunt, who already manages a chain of successful London bookshops, explains his plans to run the bookshop for a Russian billionaire.

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