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Border Books to sell Australian stores

“The US-based Borders Group announced 22nd March that its bookshops in Australia, New Zealand and the UK are up for sale as the parent divests itself of the international stores. The company said it will explore strategic alternatives for the majority of its International segment , and will look toward its successful franchise model for future international expansion in new markets The announcement co-insides with its reported unaudited fourth quarter and full-year 2006 results for the period ended Feb. 3, 2007. On a GAAP basis, the company recorded a consolidated loss in the fourth quarter of $1.25 per share, which compares to consolidated earnings per share of $1.78 for the same period in 2005.”

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