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Amazon shelves plans to acquire French parcel firm, Colis Prive
AMAZON has pulled out of deal to take control of French "last mil" parcel operator, Colis Prive, "due to external factors and for reasons beyond its control". The e-commerce giant currently holds a 25 per cent stake in the company.
France's Competition and Mergers Authority confirmed that it had been notified by Amazon that the takeover plans had been withdrawn. The deal had been announced several months ago, reported Lloyd's Loading List.
A spokesman for the online retail giant, quoted in the French press, said the company had decided to abort the takeover process "due to external factors and for reasons beyond Amazon's control".
Amazon said would be retaining its current stake in Colis Prive, which employs 400 staff and is served by 1,700 courier sub-contractors. Colis Prive delivered 35 million parcels across its network last year.
France's Competition and Mergers Authority confirmed that it had been notified by Amazon that the takeover plans had been withdrawn. The deal had been announced several months ago, reported Lloyd's Loading List.
A spokesman for the online retail giant, quoted in the French press, said the company had decided to abort the takeover process "due to external factors and for reasons beyond Amazon's control".
Amazon said would be retaining its current stake in Colis Prive, which employs 400 staff and is served by 1,700 courier sub-contractors. Colis Prive delivered 35 million parcels across its network last year.
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