AMZN Stock Down 0.17%, Amazon and SoftBank Eye Russian Retail Giant Ozon for Acquisition

UTC by Chuks Chukwuka · 2 min read
AMZN Stock Down 0.17%, Amazon and SoftBank Eye Russian Retail Giant Ozon for Acquisition
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Ozon is the only retailer that Amazon has shown consistency in its interest to participate in its life.

There are indications that Amazon.com Inc (NASDAQ: AMZN) is interested in acquiring Russian online retail giant Ozon. A statement credited to a stakeholder says that the Japanese bank SoftBank Group Inc (TYO: 9984) has also indicated interest to purchase Ozon.

At the time of writing, AMZN stock was 0.17% down, at $2,688.30.

The report said that the two companies have met behind closed doors with Sistema, the Russian conglomerate that owns Ozon.

A Saturday statement by the highest shareholder of Sistema, Vladimir Evtushenko confirmed the talks even though it is not yet clear if they are still ongoing or have been concluded.

Interest of Amazon in Ozon

During the company’s annual general meeting, Evtushenkov said that Ozon is one Russian company that has received a lot of interest from overseas. He said that Ozon is the only retailer that Amazon has shown consistency in its interest to participate in it.

“The interest to Ozon among foreign investors is very high”, he said.

He told the investors that the chief executive of Sistema Aleksandr Shulgin met with Jeff Bezos of Amazon 6 months ago in a high profile discussion that signaled the acquisition talks.

Efforts to get a statement from Sistema spokesman was rebuffed as the company seemed not ready to issue it.

Stakes for Sale

Ozon has been a subject of interest among many companies. The Russian largest lending bank Sberbank has also indicated interest to buy large stakes in Ozon.

Sistema which owns a 40% stake in Ozon announced that it needed a partner investor in the company.

Amazon has been expanding its business through strategic acquisitions. The recent talks about its interest in the Russian online retailer is part of recent high profile takeover talks by the company. We are keeping an eye on the development as it unfolds regarding Ozon.

Since its establishment, Amazon has diversified its investments into several fields, making it the giant it has become. It is left to be seen what impact the latest talks will have on the company’s stock.

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Chuks Chukwuka
Author Chuks Chukwuka

Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.

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