John Lewis to snap up UK ops of Buy.com
So says FT
Posted in Business, 4th February 2001 11:18 GMT
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John Lewis, the department store chain, is close to buying the UK arm of computer etailer Buy.com, the FT claims.
A deal could be announced as early as next week, according to the paper which says that John Lewis will operate the Buy.com brand alongside its own, rather rudimentary Web site. It will also use the etailer's technology and management team, the paper says.
Buy.com last week revealed it was in talks with an "European entity", to sell its UK arm. At the same time it announced the closure of its Canadian operations and the loss of 30 jobs. The company is under pressure to start making profits soon, and is concentrating on its US home market. ®
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