Naspers-controlled technology investor Prosus has decided to exit its shareholding in Russian classifieds business Avito.
Browsing: OLX Group
Naspers has closed its OLX in South Africa, saying the move was done so it can focus its customer proposition fully on its property and motor vehicle platforms.
Naspers has hired a top Airbnb and former Amazon executive to lead its global online classifieds business, it said on Thursday, as the technology investor looks to shore up contributions from core businesses.
After Naspers was blocked from acquiring a controlling 60% stake in specialist car-buying service WeBuyCars earlier this year, Transaction Capital has announced it is taking a 49.9% stake in the company.
The Competition Tribunal has blocked Naspers’s plan to buy WeBuyCars. This comes after the Competition Commission moved to prevent the R1.4-billion acquisition of a 60% stake in the company.
Naspers’s Prosus, through its OLX Brazil business, has agreed to spend R9.9-billion to buy Grupo ZAP, described as one of the fastest-growing technology companies in the South American country.
OLX Group, the Internet classifieds business in the Prosus stable, said on Monday that it will increase its ownership in online car marketplace Frontier Car Group.