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Amazon agrees to sell its cloud business in China for $300 million (AMZN)

November 14, 2017

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(Reuters) – Amazon.com Inc’s Chinese partner, Beijing Sinnet Technology Co., said it would purchase Amazon’s Chinese web services business for up to 2 billion yuan ($301 million), ending the U.S. firms’s cloud-computing business in the country.

Sinnet, which began operating the Amazon services in August 2016, said in a filing late on Monday the pending purchase would help the unit “comply with local laws and regulations and further improve service quality and security.”

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