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.
Souq.com appointed Goldman Sachs to find buyers for a share of the company, reports said in September. The company’s existing investors, namely Tiger Global Management and South Africa’s Naspers, were also thinking of selling their shares. -- were also weighing selling their holdings, the people had said.
