Barnes & Noble to spin off web service

- The online unit of Barnes & Noble is to seek a separate listing from the rest of the US book seller's business.

- The online unit of Barnes & Noble is to seek a separate listing from the rest of the US book seller's business.

Up to 20 per cent of barnesandnoble.com will be offered in an initial public offering next month.

The IPO is designed to give barnesandnoble.com the extra impetus it needs to fight online rival, Amazon.com, by allowing it to cash in on soaring Internet stock valuations.

Amazon's sales reached only £89 million ($148 million) in 1997 but it achieved a market capitalisation of $6.37 billion. This figure is more than double the $2.54 billion bricks and mortar capitalisation of Barnes & Noble, which was achieved on sales of $2.7 billion.





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