The Competition Commission has moved to block Naspers’s proposed R1.4-billion acquisition of a 60% stake in WeBuyCars.
Naspers will focus on consolidating technologies and harnessing artificial intelligence across its e-commerce business after taking full control of Russia’s largest classified advertising platform in a $1.1-billion deal.
Naspers said on Friday that it is investing almost $1.2-billion (about R16-billion) to buy an additional 29.1% stake in Russian classifieds business Avito.
Naspers said on Friday that it will invest R1.4-billion to help South African technology entrepreneurs grow their start-ups and will invest R4.6-billion over the next three years in the local technology sector.
A day after announcing a plan to unbundle pay-television unit MultiChoice, Naspers’s online classifieds business OLX has made a R1.4-billion investment in specialised car-buying service Webuycars.
Naspers will invest a further $500-million into US mobile classifieds platform letgo. Duncan McLeod interviews Naspers CEO Bob van Dijk and letgo co-founder Alex Oxenford about the investment.
South African online classified websites were this week overflowing with post-Christmas offers to sell various goods. It was however unclear if they were unwanted gifts or attempts to make up for festive season overspending. A white lion skin, 18-year-old Oude Meester Souverein brandy in a gift set box, a trained Yorkie