It’s Confirmed! Emaar Really Did Put In A MASSIVE Bid For Souq.Com

The bidding war for Souq.com has begun, with Emaar releasing official confirmation today that it put a USD800 million bid on the e-commerce website. 

Vice chairman of Emaar, Ahmad Thani Al Matrooshi released a letter clarifying the terms on Monday. 

Emaar Malls has submitted the bid “in line with the strategy to align e-commerce with physical shopping”.

The bid has not been accepted yet, by Souq.com shareholders.

The bid counters an offer by Amazon for $650 million 

And though the deal was thought to have been called off, last week it was rumoured the Amazon-Souq.com deal was back on. 

Here is the full statement