Amazon fails to snare China's Dangdang

US-based e-tail giant retailer Amazon has failed in its take-over bid for, the biggest shopping Web site in China.

The two businesses had been in negotiations for several months, following Amazon's proposal to buy a 70 to 90 per cent stake in the Chinese outfit for a reported US$150 million (£81.5 million). is understood to have been reluctant to become a minority stakeholder in another business, despite Amazon's assurance that the Dangdang brand name and management team would not be replaced.

Although the proposed deal collapsed, Dangdang is still thought to be interested in finding a minority shareholder. The retailer, which is based in northern China, was formed five years ago, based on the Amazon model, to sell Chinese-language books.

Amazon runs sites in several countries, including Germany, France and Japan, and has already partnered with a variety of other retailers, such as Toys R Us and Waterstone's.