FILE GERMANY ECONOMY QUELLE OTTO

'Otto' takes over 'Quelle'

epa01922634 (FILE) A composite file image dated 18 June 2009 of the logos of 'Otto Group' in Hamburg and 'Quelle' in Nuremberg, Germany. Otto, Germany�s last major mail-order retailer, bought on 05 November 2009 the brand-name and the Russian subsidiary of Quelle, its bankrupt former rival, for an undisclosed price. The insolvency administrator at Quelle said Otto had placed the highest bid. For decades, Quelle and Otto have delivered their glossy catalogues to small towns and rural homes all over Germany and eastern Europe and supplied goods by parcel post. Quelle has 280 employees in Russia. Executives said a merger made a good fit, since the two companies had tended to sell different types of product and Otto, which considers itself market leader in Russia, was eager to expand. EPA/MAURIZIO GAMBARINI/DANIEL KARMANN < 뉴스의 새 시대, 연합뉴스 Live >< 연합뉴스폰 >< 포토 매거진 >< 저작권자(c)연합뉴스. 무단전재-재배포금지. >