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FRANKFURT, Germany (AP) - Bertelsmann AG said Friday it was acquiring France's biggest independent chain of book stores, Privat, but didn't disclose the terms of the deal.
Citing people familiar with the acquisition, The Wall Street Journal said the Guetersloh-based media giant would likely pay approximately 50 million euros ($64 million) to make its first foray into traditional retail bookselling. Privately held Privat has 32 stores across France.
Bertelsmann's reach encompasses nearly all forms media, with publishing, music sales and broadcasting operations in approximately 60 countries worldwide.
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