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Tuesday, 4 July 2017

Amazon has completed its acquisition of Souq.com

Amazon has completed its acquisition of Souq.com, the Dubai-based online retailer said on Monday. The company said that the firms now would work on the "next phase of the integration to bring more products and offerings to the region’s customers even faster." Users can now also log into their website using their Amazon account, the company added. No official acquisition figure has been disclosed, but the Associated Press is noting that the transaction had beat out Emaar Malls PJSC’s bid of USD 800 mn bid for Souq.com, which it announced in a filing on the Dubai Financial Market.

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