Souq.Com says Amazon has bought it after USD 800M counteroffer

The Middle East's biggest online retailer Souq.Com has been bought by Amazon for an undisclosed amount, a day after a counteroffer of USD 800 million from the operator of Dubai's biggest mall became public.
Souq.Com and Amazon issued a joint statement today in Dubai announcing the sale, saying it represents Amazon's entry into the Middle East.
The statement says the acquisition is expected to close in 2017, without elaborating. A filing yesterday by Emaar Malls PJSC on the Dubai Financial Market showed the mall operator offered USD 800 million for the site.
Seattle-based Amazon.Com Inc. Confirmed the sale in a separate statement, without elaborating on terms. Emaar Mall's bid for the site comes after Emaar chairman Mohamed Alabbar reportedly met in November with Amazon CEO Jeff Bezos in Dubai Mall.