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Luxury Swiss watchmaker Corum sold to China Haidian

The Swiss watchmaker Corum said Wednesday it had been acquired by China Haidian in the first purchase of a luxury Swiss watch company by a Chinese rival. China Haidian said it had acquired 100 percent of Corum for 86 million Swiss francs ($90.9 million, 71.6 million euros). The companies said the sale would anchor China Haidian's position in the Swiss luxury watch sector while opening new prospects for development and positioning of the Corum brand worldwide.
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