GenesisIntermedia and fashionmall end merger talks

GenesisIntermedia.com Inc. and fashionmall.com Inc. jointly announced that the board of directors of fashionmall.com has declined the previously announced GenesisIntermedia acquisition offer. Ramy El-Batrawi, chairman and CEO of GenesisIntermedia.com, says the two companies are considering working together as strategic partners. GenesisIntermedia.com is involved in several business lines revolving around the marketing and advertising of consumer goods and services. The company`s main business lines are in direct sales and marketing and interactive advertising and data mining in retail malls. Fashionmall.com is a shopping portal that recently bought boo.com