Amazon, Flipkart drop $1 bn Souq acquisition bid: Report
E-commerce majors Amazon and Flipkart have reportedly walked way from a bid to acquire Dubai-based e-commerce platform Souq after disagreeing over price. Amazon had entered acquisition talks with Souq last year in a deal that would have been worth about $1 billion. Souq became the highest valued internet company in the Middle East after raising $275 million in February 2016.