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Bertelsmann to sell Direct Group France
German media group Bertelsmann is drawing up plans to sell its Direct Group France division for an amount that could exceed €300m, French newspaper Le Figaro reported yesterday. There are also suggestions that Bertelsmann could look to sell its entire book club division.
A spokesperson for Bertelsmann in Germany said that no decision had yet been taken concerning the sale of the European activities of Direct Group. "The news over the timing and the price are pure speculation," he added.
French business daily Les Echos said the sale process could begin in the middle of September.
According to Le Figaro, Bertelsmann appointed Morgan Stanley to oversee the sale of the unit, which includes book chain France Loisirs, though the paper said the German group had denied this.
Among potential buyers for Direct Group France, Les Echos named Amazon, Grupa Platena and investment funds.
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