Retail giant circles Germany's HSE 24

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COLOGNE, Germany -- German retail giant KarstadtQuelle is close to acquiring local home shopping channel HSE 24, according to local media reports.

German newspapers on Wednesday reported that KarstadtQuelle was close to a deal with Barry Diller, whose InterActiveCorp. owns HSE 24.

KarstadtQuelle, Germany's largest retailer, once held 10% of HSE 24 but sold the stake in 2005. The price tag for the German channel is believed to be in the low hundreds of millions of euros.

KarstadtQuelle and HSE 24 declined comment Wednesday.
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