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Amazon in talks to buy Souq for USD 1 bln - report

Friday 25 November 2016 | 09:08 CET | News
Amazon could soon announce the acquisition of Middle East online marketplace Souq.com for USD 1 billion, Bloomberg reported, citing sources familiar with the matter. The parties are in talks, with Amazon mulling the purchase of the total site instead of a 30 percent stake as initially planned. No final agreements have been reached and negotiations could still fall through. No comments were obtained from Souq.com or Amazon.

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Categories: Internet
Companies: Amazon / Naspers
Countries: Middle East / World
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