Amazon backs out of Souq deal
| By Arabian Post Staff| Amazon.com Inc. and India’s Flipkart Online Services Pvt have walked away from talks to acquire Dubai-based Souq.com after disagreeing over price, Bloomberg reported quoting sources. Souq is now seeking other potential investors and is negotiating with mall-operator Majid Al Futtaim, it further said. Amazon reportedly entered talks with Souq.com last year in a deal that would have been worth about $1 billion. […]