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Amazon Said to Walk Away From $1 Billion Souq.com Takeover

  • Retail giant and Flipkart said to end negotiations over price
  • Souq said talking with Majid Al Futtaim as seeks new investors
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Amazon.com Inc. and India’s Flipkart Online Services Pvt have walked away from talks to acquire Dubai-based Souq.com after disagreeing over price, according to two people with knowledge of the matter.

The e-commerce business is now seeking other potential investors and is negotiating with mall-operator Majid Al Futtaim, one of the people said, asking not to be identified as the talks aren’t public.