Amazon.com Inc. restarted talks to acquire Dubai-based Souq.com for as much as USD650mn after walking away from the deal earlier this year. The US e-commerce giant resumed negotiations with the online retailer in recent weeks after they stalled in January when the two companies couldn’t agree on a price. Souq.com was valued at USD1bn in its last funding round, people with knowledge of the matter said in April 2015. The retailer raised USD275mn, making it the most valuable Internet company in the Middle East, according to Standard Chartered, which has invested in the company. Souq.com’s existing investors include Tiger Global Management and South Africa’s Naspers Ltd. The company hired Goldman Sachs Group Inc. to find buyers for a stake last year.
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