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NetEase Shopping Platform Hopes to Acquire Amazon China Program: Reports

/ Feb 20, 2019 10:14 AM / Business & Tech

Photo: VCG

Photo: VCG

As China’s e-commerce market matures, newcomers are considering strategic mergers and acquisitions to combat existing giants.

Now Chinese internet company NetEase’s international shopping platform Kaola is hoping to acquire Amazon China’s global shopping program – the service that allows China-based users to purchase items from Amazon sites abroad – according to finance news outlet Caijing. 

NetEase first proposed the idea, and both sides kicked off negotiations in late 2018, according to the report – and they might go on for quite some time. Sources close to the matter said Amazon’s position as a major multinational corporation brought “all difficulties one could ever imagine in business negotiations” to the table.

The two companies may consider a stake exchange as a possible collaboration option, Caijing reported.

Both NetEase and Amazon China declined to comment on the matter.

Related: E-Commerce Powers China to World’s Top Retail Spot: Report

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