“We never comment on speculation, but I believe Souq is a great company. I’ve got a lot of respect for what they’ve done,” said Majid Al Futtaim CEO Alain Bejjani at the WEF in Davos, The National reported. While Bejjani declined to comment specifically on a potential acquisition of Souq.com, he did state that his company was investing heavily into digital trading. “The e-commerce pure-play landscape in the region has changed dramatically in a short space of time," he said. “We’re investing in it in a big way and we have very ambitious plans.” It was reported recently that Souq.com had begun negotiating with Majid Al Futtaim and other investors after talks with Amazon had reportedly collapsed over valuation disagreements.

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