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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 227.35

+0.3%

Dec 19 9:30 AM EST

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To: dbblg who wrote (62760)	6/16/1999 2:10:00 AM
From: Tae Spam Kim	Read Replies (1) of 164684

Amazon.com and Sotheby's Alliance Following eBay's acquisition of a prestigious traditional auction house, Amazon.com is fighting back by announcing an alliance with Sotheby's. Amazon.com will invest $45 million in famous old-guard firm and work together on internet auctions. Amazon.com Inc. and Sotheby's Holdings Inc. have entered an alliance to sell art and collectibles online this year, the New York Times said. Amazon.com will invest $45 million in Sotheby's, one of the leading names in art auctions, including a purchase of 1 million shares of stock for $35 each. Sothebys.amazon.com will offer collectibles from professional dealers while Sothebys.com will sell more traditional auction-house fare, the newspaper reported. - Bloomberg

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