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Net stakes unloaded

World Brief

Financially wracked German retail group KarstadtQuelle has sold its stakes in sports web DSF and Home Shopping Europe to fellow shareholders EM.TV and Home Shopping Network.

EM.TV bought KarstadtQuelle’s 40% stake for E27 million ($35 million), giving the children’s programming and sports rights company 81% in the channel.

Swiss entrepreneur Hans-Dieter Cleven retains a 19% stake.

KarstadtQuelle and Cleven took over DSF in 2003 after the insolvency of the web’s former parent, Kirch Media.

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