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Bertelsmann to shut China book club unit
Bertelsmann plans to shut down its book club business in China, which is partially responsible for unit Direct Group's losses, the German Financial Times reported, without revealing its sources.
The newspaper said all of the unit's top managers in China have already left the company, and the unit's business will be taken over by services division Arvato after Direct Group is shut down in China. Spokespeople for Bertelsmann in Germany and in China declined to comment on the matter, FT Deutschland added.
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