Naspers, which started as an Afrikaans language newspaper publisher in the beginning of the 20th century, said the disposal of online retailer Netretail and price comparison platform Heureka was part of a plan to optimise its group structure, reuters.com reports.
After different strategies prevented Naspers from merging Netretail with Romanias eMag, both of which it bought in 2012, the company said it decided to focus on eMag as its preferred e-tail platform in the region. The company has announced that it has increased its stake in Russian classifieds group Avito to a majority in a USD 1.2-billion deal with existing shareholders. Naspers has increased its stake in Avito to 67.9% from 17.4%. The South African company initially invested in Avito in 2013.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now