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6/16, 11:20 AM (Source: TeleTrader)
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Amazon to expand into five new countries - report

Amazon is planning to roll out its online marketplace in five new countries by early next year, even as it shrinks portions of its US retail business, as reported by Business Insider on Thursday.

According to the report, Belgium, Chile, Colombia, Nigeria, and South Africa are the countries where the giant will open the new marketplaces. The decision will probably affect the local e-commerce firms, among them Jumia and Mercado Libre, leading operators in Africa and Latin America, respectively.

At 5:18 am ET, after the report was out, Amazon's shares were down by 3.13% to sell for $104.30.

Baha Breaking News (BBN) / JG