eBay would prefer to keep a stake in the classified advertising business it’s selling, according to people familiar with the matter, lessening the chances Prosus will win the hotly-contested auction.
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Prosus handed in the highest offer for eBay’s classifieds unit, putting the Naspers-owned business in pole position to win one of the largest auction processes this year.
Prosus is in talks to increase its stake in iFood, Latin America’s biggest food delivery start-up, amid a wave of consolidation in the industry, people with knowledge of the matter said.
It would be interesting to speculate how many people who, after reading the Prosus and Naspers results for the year to March, are thinking the same thing: would Warren Buffett invest in either company?
Bob van Dijk, CEO of Naspers and its European-listed spin-off Prosus, received remuneration of US$15.98-million, or R276-million, in the past year, according to the Naspers annual report published on Tuesday.
Media and e-commerce group Naspers on Monday reported a 4.5% drop in profit for the year to 31 March, mainly as a result of investments to drive growth in its food delivery business.
Naspers and an investor group backed by German publisher Axel Springer are among suitors that submitted bids for eBay’s classified advertising business, according to people familiar with the matter.
Naspers remains on the lookout for acquisitions even as economies around the world grind to a halt in the face of the coronavirus pandemic.
A bad start to the year for stocks? That hasn’t applied to Naspers, as the coronavirus confined hundreds of millions of consumers indoors, driving demand for online services and entertainment.
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.