KarstadtQuelle AG will postpone the initial public offering of its Neckermann.de mail order business until next year, according to wire service reports.
Last fall, the German retailing giant said it would make the IPO for the unit with an eye toward selling it as part of an overall restructuring effort (Direct Newsline, Nov. 29.
The firm also plans to shutter its activities in Belgium and the Netherlands early next year and is in talks to unload its operations in France, Portugal and Spain.
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