Lloyds chases HMV live arm

THE PRIVATE equity arm of Lloyds Banking Group is in talks to buy a chunk of ailing retailer HMV.

Lloyds Development Capital is interested in several artist management firms and entertainment venues that are part of HMV Live.

HMV, which earlier this month offloaded the Hammersmith Apollo, is considering a break up of its live entertainment business as it struggles to drum up interest from bidders for its festivals arm. HMV and LDC declined to comment.