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Article: Rumor Lifts Amazon Stock; Firm May Run Wal-Mart's Web Operation, Paper Reports
- Article from:
- The Washington Post
- Article date:
- March 6, 2001
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Amazon.com shares rose 26 percent yesterday in response to a
report that it may be taking over the online operations of Wal-Mart,
the retailer it has been striving to emulate on the Internet. Both
companies said they would not comment on the rumor.
The deal, as outlined in London's Sunday Times, could be
beneficial to both parties. Amazon has the best brand name on the Web
and millions of fans, but also a pile of debts and an underutilized
distribution network. Wal-Mart is a powerful retailer that dwarfs
Amazon in size, but it came late to the Web and seems uncertain of
itself online. Walmart.com, which was relaunched in November, laid