German store stake

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The Independent Online
Kaufhof, the German department store and mail-order giant, plans to take a controlling stake in the rival Horten group, according to a report in Der Spiegel magazine. The report said Westdeutsche Landesbank will sell a 26 per cent stake in Horten to Kaufhof, whose parent Metro Group already holds a 12 per cent stake in Horten.

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