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Axel Springer buys 88 pct of Business Insider

FRANKFURT, Sept 29 (Reuters) - German publisher Axel Springer said on Tuesday it would buy 88 percent of news website Business Insider valued at $343 million.

Springer, which earlier this year missed out on buying the Financial Times newspaper from Pearson (Xetra: 858266 - news) , said it already owns about 9 percent of the website, which has 76 million monthly visitors.

Amazon Inc -founder and chief executive Jeff Bezos will hold the rest of the shares via his personal investment company Bezos Expeditions, Springer said in a statement. (Reporting by Harro ten Wolde; Editing by Maria Sheahan)