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GeekWire reports that Amazon is considering making an $1 billion buyout offer for, described as "an 11-year-old e-commerce marketplace based in the Middle East ... An acquisition of, with nearly two million products for sale on the marketplace across categories such as books, electronics, toys and home products, would supercharge Amazon’s expansion in the Middle East."

The story says that Souq was originally interested in selling just 30 percent of the company, but that Amazon's preference is for all or nothing all.

Two other points from the GeekWire story: that "Souq is facing new competition from a Saudi Arabia-backed company by the name of Noon, which earlier this month raised $1 billion" and "plans to launch in January with 20 million products," and that a billion dollar purchase of the company "would be one of the largest deals for Amazon, which historically has spurned large acquisitions in favor of organic growth."
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