-Tengelmann buys more shares in online businesses

Internet Business News
07-15-2011
-Tengelmann buys more shares in online businesses

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

15 July 2011 - German retailer Tengelmann has acquired minority shareholdings in Munich-based Deal United GmbH, a provider of alternative online payment systems, and in Berlin-based Coffee Circle, an online provider of premium coffee.
By the end of the year, Tengelmann plans to raise the number of its minority stakes in such small and newly set up firms to 20, CEO Erivan Haub said. Although the online segment does not yet contribute to the company's profit, these small investments account for extensive know-how, which will benefit Tengelmann's business.

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