Majid Al Futtaim in talks to acquire Souq.com

Dubai – Mubasher: Majid Al Futtaim Group has entered negotiations with Souq.com to acquire the Dubai-based e-commerce company, Bloomberg reported on Wednesday.

Bloomberg said that Souq.com is currently seeking other potential investors as Amazon withdrew from the acquisition due to a disagreement over price.

Last November, Amazon entered talks to acquire Souq.com for $1 billion.

Mubasher Contribution Time: 19-Jan-2017 10:01 (GMT)
Mubasher Last Update Time: 19-Jan-2017 10:01 (GMT)