Amazon shares leap on Wal-Mart talks
06 Mar 2001 | by Louise Banbury
Amazon’s share price jumped by more than 26% yesterday, following reports that the online retailer was in talks to form a strategic alliance with US retail giant Wal-Mart.
Vivendi Universal chief executive Jean-Marie Messier has signalled that the French media giant is seeking a number of internet acquisitions and partnerships, despite having just sold its stake in AOL France for 700m.
Amazon’s share price jumped by more than 26% yesterday, following reports that the online retailer was in talks to form a strategic alliance with US retail giant Wal-Mart.
Media group Vivendi Universal, the owner of the world’s largest music publishing group, said it is prepared to license its catalogue to Napster if the online song-swapping service became legitimate.
Shares in media and education group Pearson fell further this morning as investors reacted to fears about internet investment.
AllDayPA, an internet-based UK office services company that officially only launched last week, has managed to raise 10.5m and been valued at 105m.
Weak advertising revenues sent shares in The New York Times Company downwards, following a warning that first-quarter earnings would fall short of analysts’ expectations.
European TV and radio group SBS Broadcasting has joined forces with Fox World, the international arm of Fox Television Studios, to form a European programming joint venture.
Securicor has launched SafeDoor.co.uk, an online shopping service aimed at nervous consumers reluctant to give their credit card details online.
Scoot.com, the online directory, has said its results for the 15 months to the end of December 2000 will be in line with expectations, but added that it had no plans for a public equity offering.
Former Mirror Group chief executive David Montgomery is to increase his stake in his new company African Lakes, in a bid to shore up the African ISP’s stock ahead of a new share placing.