This kind of news may mark the beginning of a change in the valuation malaise that we have been experiencing recently.
from CBS MarketWatch.
7:26AM
Amazon talking to Wal-Mart (US:AMZN, US:WMT) by Bernard Hickey
The world's biggest online retailer Amazon (US:AMZN) is in secret strategic alliance talks with Wal-Mart (US:WMT), the world's biggest 'bricks and mortar' retailer, Britain's Sunday Times newspaper reported. Citing an unnamed executive close to the talks, the newspaper said the two groups were hammering out the details of an agreement that could be reached in six weeks. The newspaper did not say how the deal would be structured or whether Wal-Mart would inject cash into the online retailer, which is struggling to make profits because of low margins and high debts. The newspaper said the deal would be a relief for Amazon's founder Jeff Bezos. "Jeff wants to build the biggest, best multi-category online retailer in the world," the unnamed executive was quoted as saying. "He has the technical expertise, but not the sales, the customers or the money any more. Wal-Mart has the sales, the expertise and the money, but it doesn't have the strong online presence," the executive said. "It's a net fit, but not one that will be easy to pull off," the executive said.
FRIDAY, MARCH 2, 2001 |
