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Liberty Interactive to buy rest of HSN

An undated handout image of QVC's Beauty iQ live network. REUTERS/QVC/Handout

(Reuters) - Liberty Interactive Corp (QVCA.O) said it would buy the remaining 62 percent of HSN Inc (HSNI.O) it does not already own in a deal that values the TV shopping network at $2.1 billion.

The deal allows U.S. cable TV mogul John Malone to fully merge HSN with Liberty Interactive's QVC network.

The all-stock offer is worth $40.36 per HSN share, a premium of 29 percent to the stock's...