March 28, 2017 / 7:11 AM / 8 months ago

Dubai's Souq.com to make announcement on Amazon.com bid -sources

DUBAI, March 28 (Reuters) - Middle Eastern online retailer Souq.com will make an announcement later on Tuesday about Amazon.com Inc’s bid to buy 100 percent of the company from its shareholders, two sources familiar with the deal told Reuters.

One of the sources, declining to be identified ahead of the announcement, said the statement would say that Souq.com’s shareholders had accepted the bid.

Souq.com declined to commemt. Amazon officials could not immediately be reached for comment.

Dubai’s Emaar Malls, operator of some of the region’s most glitzy shopping malls, said on Monday it had made an $800 million offer for Souq.com. Sources said that bid was higher than what Amazon had offered. (Reporting by Hadeel Al Sayegh and Alex Cornwell; Writing by Saeed Azhar; Editing by Andrew Torchia)

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