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​Amazon could be eyeing Arab counterpart Souq.com

The online retail giant is reportedly in talks to acquire Dubai-based Souq.com for about $1 billion.

Amazon.com is reportedly in talks to acquire the Arab world's version of itself, Souq.com, for about $1 billion.

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The deal, which Bloomberg reported on Thursday citing people familiar with matter, would help the retail giant gain traction in the fast-growing Middle East market.

Amazon is considering a bid for the entire Souq.com site, according to Bloomberg, but Souq.com had initially planned to sell just a stake of the company. No final agreements have been made, and negotiations could still fall through, the report said.

Neither Amazon nor Souq.com immediately responded to requests for comment or confirmation.

Amazon has been targeting growing international markets. It recently expanded its Prime subscription service to China and India.

Souq.com calls itself the largest online retail and marketplace platform in the Arab world, featuring more than 1.5 million products across 31 categories.