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Souq.com says Amazon has Bought it After $800M Counteroffer

Amazon purchased the Middle East's biggest online retailer Souq.com on Tuesday for an undisclosed amount, a day after a state-backed firm disclosed an $800 million counteroffer. A joint statement described the purchase as expanding Amazon's influence into the Mideast as the state-supported firm Emaar prepares to launch its own retail website in a country known more for its luxury malls than online shopping. That could put Seattle-based Amazon in a head-to-head...

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