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Amazon wants to buy a stake in Souq
Amazon is looking like it will expand into the Middle East. The reports come following news that the online giant is preparing to put forward a 30% stake in the Dubai based ecommerce site Souq.com. The 30% stake is thought to value Souq.com at around 1.2 billion US dollars, but it is thought that no final deal has been agreed at this point. However, an expansion for Amazon in the region would make sense after the Middle East has seen economic growth and increased investment in the consumer industry.
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