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AMAZON.COM

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Amazon com : Retailer Amazon nears victory in rainforest battle over domain name

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05/20/2019 | 07:15pm EDT
FILE PHOTO: The Amazon river

BRASILIA (Reuters) - Amazon, the world's biggest online retailer, is close to winning a seven-year battle with eight Latin American countries over the .amazon internet domain.

Amazon Inc has been seeking rights to the domain name since 2012. But Amazon basin countries Brazil, Bolivia, Peru, Ecuador, Colombia, Venezuela, Guyana and Suriname have argued that it refers to their geographic region and should not be the monopoly of one company.

The global Internet Corporation for Assigned Names and Numbers (ICANN), which oversees internet addresses, said on Monday it had decided to proceed with the designation requested by Amazon Inc pending a 30-day period of public comment after the eight nations bordering the world's largest rainforest and the company failed to reach an agreement.

Brazil lamented the ICANN decision and said it should have opted for shared governance of the domain, the country's foreign ministry said in a statement.

ICANN had extended until last month a deadline for the parties to reach a deal.

ICANN placed the company's .amazon request on a "Will not proceed" footing in 2013, but an independent review process sought by the company faulted that decision and ICANN then told the Amazon basin nations they had to reach an agreement with the company.

(Reporting by Anthony Boadle; Editing by Phil Berlowitz)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.14% 1913.9 Delayed Quote.27.25%
EURO / BRAZILIAN REAL (EUR/BRL) 0.13% 4.3664 Delayed Quote.-1.97%
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Financials ($)
Sales 2019 275 B
EBIT 2019 17 586 M
Net income 2019 13 927 M
Finance 2019 29 887 M
Yield 2019 -
P/E ratio 2019 70,81
P/E ratio 2020 50,39
EV / Sales 2019 3,32x
EV / Sales 2020 2,73x
Capitalization 942 B
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Technical analysis trends AMAZON.COM
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Mean consensus OUTPERFORM
Number of Analysts 48
Average target price 2 201 $
Spread / Average Target 15%
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Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Tom A. Alberg Independent Director
Thomas O. Ryder Independent Director
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