Amazon.com Inc has agreed in principle to buy 100 percent of Dubai-based online retailer Souq.com from its shareholders, sources familiar with the deal told Reuters on Wednesday.

Amazon declined to comment and a spokesperson for Souq.com did not immediately respond to a request for comment.

Goldman Sachs acted as adviser for Souq.com and helped to arrange the deal, two of the sources said.

Souq.com, which sells consumer electronics, fashion, household items and other goods, is one of the most high-profile names in the Middle East’s online shopping market. More info

By Reuters  arabianbusiness.com

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