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Wednesday, 18 January 2017

Amazon Said to Walk Away From $1 Billion Souq.com Takeover Talks - Bloomberg

Amazon Said to Walk Away From $1 Billion Souq.com Takeover Talks - Bloomberg:

"Amazon.com Inc. and India’s Flipkart Online Services Pvt have walked away from talks to acquire Dubai-based Souq.com after disagreeing over price, according to two people with knowledge of the matter. The e-commerce business is now seeking other potential investors and is negotiating with mall-operator Majid Al Futtaim, one of the people said, asking not to be identified as the talks aren’t public. U.S. online retail giant Amazon entered talks with Souq.com last year in a deal that would have been worth about $1 billion, people with knowledge of the matter said in November. The Middle Eastern company’s existing investors include Tiger Global Management and South Africa’s Naspers Ltd. Souq.com appointed Goldman Sachs Group Inc. to find buyers for a stake last year, people familiar said."



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