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China Finance magazine reported Tuesday that Amazon's (AMZN.O) China joint venture is in merger negotiations with China's e-commerce company NetEase Koala, which mainly sells imported products in China.
Koala is the business of Netease (NTES.O), a Nasdaq listed company, which sells clothing and household appliances. According to a report by iiMedia, a consultancy, Koala is the leading website for selling imported goods in China, followed by Tianmao International and Jingdong Global Sales.
Koala buys products directly from overseas manufacturers and last year operated more than 5,000 brands from 80 countries.
Amazon told Reuters that it did not comment on market speculation. NetEase declined to comment.
Netease shares closed up 0.89% on Tuesday.
Amazon continues to invest billions of dollars in developing markets such as India and China in the hope of boosting future profit growth, while its profits and sales are growing strongly. Amazon lost $642 million in the fourth quarter, compared with $919 million in the same period last year.


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