DUBAI—Amazon.com Inc. said Tuesday it is acquiring Dubai-based Souq.com, placing one of its biggest global bets in recent years on the small but rapidly expanding Middle Eastern online shopping market. Amazon didn’t give a value but a banker familiar with the deal said it was worth around $700 million. The acquisition is unusual for the global giant, which has spent heavily on expanding its footprint around the world but doesn’t...

Source: Wall Street Journal March 28, 2017 10:19 UTC