brings Prime service to Brazil; local retail shares drop

SAO PAULO (Reuters) – Inc said on Tuesday it will launch its Prime subscription service in Brazil, where it has struggled against tough local competition in Latin America’s largest economy.

Shares in Brazilian retailers tumbled after Amazon announced it is offering Prime subscribers unlimited nationwide free shipping and a maximum 48-hour delivery time in over 90 municipalities for goods ranging from clothes to electronics.

By Aluisio Alves via Yahoo Finance

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