Douglas says not planning to sell bookstore chain

DUESSELDORF, Germany, March 15 Thu Mar 15, 2012 12:40pm EDT

DUESSELDORF, Germany, March 15 (Reuters) - German books to perfumes retailer Douglas Holding has no plans to sell its bookshop chain Thalia, it said on Thursday.

The books division is facing increasing competition from online sellers such as Amazon and Douglas said in a statement a proposal for a new set-up had been made at a board meeting on Wednesday.

There had been speculation Douglas could look to sell the chain if a turnaround did not work.

The company said there were no further updates on plans by the controlling Kreke family to take Douglas private, adding it was still open as to whether and when such a transaction could take place.

Douglas is due to hold its annual shareholders' meeting on Wednesday.

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