Citron's famed short-seller Andrew Left says he expects Amazon to buy Jumia, Africa's leading e-commerce company this year
after the report. Amazon made its first inroad into Africa last year with a new marketplace in Egypt. Left said the report gave him more confidence that Amazon would look into this deal.
For Amazon, buying its way into a new market wouldn't be an entirely new endeavor. In 2017, it acquired Middle Eastern e-commerce firm Souq for $580 million. Two years later, itLeft thinks Amazon could acquire Jumia for about $1 billion, a roughly 55% premium to Jumia's existing market value. Amazon would be able to easily recoup the money spent on the acquisition, Left said, if its share price increases even slightly following the deal.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Andrew Gillum, former Fla. governor candidate, charged with wire fraudGillum, who came within a percentage point of winning his 2018 race against Gov. Ron DeSantis (R), denied any wrongdoing in a statement.
Read more »
Andrew Gillum, Former Candidate For Florida Governor, Facing Federal ChargesGillum faces 21 federal charges related to a scheme to seek donations and funnel a portion of them back to him through third parties.
Read more »
DOJ: Andrew Gillum, former candidate for Florida governor, indicted on wire fraud chargesFlorida Democrat Andrew Gillum, the former Tallahassee mayor who nearly defeated Gov. Ron DeSantis in a run for Florida governor in 2018, has been indicted on wire fraud charges, according to the Department of Justice.
Read more »
Former Florida gubernatorial candidate Andrew Gillum hit with federal indictmentGillum, who narrowly lost to Florida Gov. Ron DeSantis in 2018, conspired with his mentor, Sharon Lettman-Hicks, to reroute campaign contributions for personal use, federal prosecutors said.
Read more »