According to Bloomberg, Amazon.com Inc. has resumed talks to acquire Dubai-based Souq.com for as much as $650 million after walking away from the deal earlier this year. While the original news sources remain unnamed, it is said that Amazon resumed negotiations with the online retailer after the process was stalled in January when the two companies couldn’t agree on a price. Previous bidders mall-operator Majid Al Futtaim pulled out.
Souq was valued at $1 billion in its last funding round. According to Standard Chartered Plc, the retailer raised $275 million, which so far makes it the highest valued Internet company in the Middle East.
Could this exciting shakeup amount to a deal? To get the full scoop, visit https://www.bloomberg.com/news/articles/2017-03-09/amazon-said-to-resume-650-million-takeover-talks-for-souq-com