Rackspace shares surge on report that Amazon is in talks to invest in company

Trading was briefly halted due to volatility after theThe Reuters report said that Amazon is interested in acquiring a minority stake in Rackspace, which helps companies shift their data to Amazon Web Services .

Rackspace held its IPO earlier this month. Private equity firm Apollo Global Management is the majority owner of Rackspace.Spokespeople for Amazon, Rackspace and Apollo did not immediately respond to a request for comment.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

eBay exec explains the marketplace's edge over rivals like Amazon - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 😂😂😂 EBay eBay selling fees are RIDICULOUS. eBay is so 1996
Read more »