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Amazon clinches deal to buy Middle East online retailer

Posted online March 28, 2017 | 11:39 am

Amazon.com agreed to buy Middle East online retailer Souq.com for undisclosed terms.

The purchase followed an $800 million counteroffer by Dubai billionaire Mohamed Alabbar's Emaar Malls.

Deal adviser Goldman Sachs called the agreement "the biggest-ever technology M&A transaction in the Arab world."

Read more from Reuters.

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