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News Burst: John Lewis to buy buy.com
Another traditional retailer snaps up a struggling dot-com
High street department store John Lewis is expected to announce Monday that it has purchased the UK operations of buy.com.
According to reports, a deal was finalised at the weekend after the troubled dot-com announced that its British arm was up for sale. The deal would help John Lewis to expand its Internet operations, which includes johnlewis.co.uk and waitrose.com.
Buy.com reported a loss of £18.6m in the fourth quarter of 2000, and closed its Australian operations in late 2000.
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