The Amazon of the Middle East is on sale

Publication

9 February 2017 à 16h28

Updated on 10 May 2019 à 17h59

Reading time

1 minute

Publication: 9 February 2017 à 16h28, Updated on 10 May 2019 à 17h59

Reading time: 1 minute

Publication

9 February 2017 à 16h28

Updated on 10 May 2019 à 17h59

Reading time

1 minute

Publication: 9 February 2017 à 16h28, Updated on 10 May 2019 à 17h59

Reading time: 1 minute

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Souq.com, the Gulf’s largest online retailer, hired Goldman Sachs as advisor regarding a possible disposal. Souq has discussed with Amazon and Indian rival Flipkart Online Services, but talks are said to have ended due to a valuation disagreement. Majid Al Futtaim, which owns the Carrefour franchise across the region, would be potentially interested. Souk would seek a US$1 billion valuation, ahead of the $700 million Amazon would have offered.

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