KarstadtQuelle, Axel Springer to launch Internet business |
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Published
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Wed, 21 Feb 2007 12:01
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FRANKFURT (AFX) - KarstadtQuelle AG said it plans to set up a joint venture with publisher Axel Springer AG to sell products on the Internet.The new company will be owned 74.9 pct by KarstadtQuelle and 25.1 pct by Springer, the German retailer said in a statement.The business is scheduled to start operating this year.Details about the range of goods to be sold and the firm's target audience will be released at a later date, KarstadtQuelle said.The deal is subject to anti-trust clearance and approval by KarstadtQuelle's supervisory board.newsdesk@afxnews.comjfb/jlcCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Axel Springer FY EBITA rises to 374 mln eur from 338 mln, to double div 