Luxembourg - Online retail giant Amazon.com announced on Monday that it will sell its (NASD: AMZN) Amazon Europe unit's DVD rental business in the U.K. and Germany to Lovefilm.

Financial terms of the transaction were not disclosed.

Under the deal, Amazon Europe will continue to promote Lovefilm's online DVD rental service on its sites for U.K. and German customers.

Following the completion of the transaction, Lovefilm says it will count over 900,000 customers across the U.K., Germany, Sweden, Norway and Denmark.

Amazon said no staff reductions are planned at its European operations as a result of the sales.

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