The proprietor of Waterstones is near hiring bankers to work on a multibillion-pound itemizing of the transatlantic bookseller.
Sky Information has learnt that Elliott Administration is getting ready to nominate Rothschild to behave as an unbiased adviser on its flotation choices, with a public market debut prone to happen as quickly because the second quarter of this 12 months.
Sources mentioned that Rothschild’s doubtless engagement was the clearest signal to date that London is well-placed to conquer New York within the battle to stage the itemizing of one of many world’s main ebook retailers.
In addition to Waterstones, the group additionally owns Barnes & Noble, which trades from tons of of shops within the US.
In Britain, the corporate trades from about 315 shops and employs roughly 4,000 folks.
It has been reworked beneath the management of James Daunt, founding father of the eponymous retail chain, which is individually owned by him.
Sky News reported in October that Mr Daunt had been among the many attendees at a roundtable hosted by Rachel Reeves, the chancellor, in an try to advertise the London Inventory Alternate as an inventory venue.
Final month, the Monetary Occasions mentioned the corporate had kicked off talks with potential advisers on a deal.
Plenty of different banks will probably be appointed within the coming months to supervise the general public itemizing and share sale.
Elliott declined to remark.
