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So how is she No 3 in The Observer's Power 50? Because she is presiding over one of the most important decisions in the history of the bookselling industry: whether Waterstone's (HMV) should be allowed to swallow up its rival book chain Ottakar's. A college athletics solicitor college athletics by background, Guy heads the team of lawyers and competition experts who will make the final call over whether the two high-street giants should be allowed to merge. If she puts obstacles in the way of the £96m bid, Waterstone's may decide college athletics to abandon it, leaving Ottakar's vulnerable to other takeover approaches. But if she opts to let it through we'll see the creation of the UK's largest ever high-street bookseller.Waterstone's influential head buyer Scott Pack, who may well have topped the 50 six months ago, recently announced his departure.4 Tim Hely HutchinsonChief executive, Hachette Livre UKThe French have arrived. Last month Hachette Livre, part of France's missiles-to-magazines group Lagardere, bought the transatlantic publisher Time Warner.
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