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Emaar Malls bids US$800m for online retailer Souq to challenge Amazon

The bid hasn't been accepted yet by Souq.com shareholders, according to the company

Published Mon, Mar 27, 2017 · 09:50 PM
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London

EMAAR Malls PJSC, the operator of the world's biggest shopping centre, bid US$800 million for online retailer Souq.com, challenging an offer made by Amazon.com Inc.

The retail division of Emaar Properties PJSC, the developer of the world's tallest skyscraper in Dubai and run by Mohamed Alabbar, said that the bid hasn't been accepted yet by Souq.com shareholders,according to the company on Monday. Any impact on the company's profit after a deal has been reached wouldn't be material, it said.

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