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Tuesday, 28 March 2017

Amazon announces agreement to buy Souq.com | The National

Amazon announces agreement to buy Souq.com | The National:

"Amazon said today it had reached an agreement to acquire Souq.com, ending months of speculation about the leading regional e-commerce group. The purchase price was not disclosed but the deal comes just a day after Emaar Malls said it had submitted an $800 million bid for the company. "Amazon’s entry into the region reflects the visionary foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who launched Dubai Internet City in 1999 and adopted the e-commerce and online business legislation of 2002," said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai. "Furthermore, it reiterates Dubai’s position as a regional and global hub for the world’s biggest and leading organizations," Sheikh Hamdan said."



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