South Africas Naspers in $570 million Russia internet deal FT

JOHANNESBURG (Reuters) – South African media and e-commerce firm Naspers Holdings will merge two of its Russian internet sites with rival Avito.ru in a deal worth at least $570 million, the Financial Times reported on Tuesday.Cape Town-based Naspers, which has transformed itself into a $29 billion internet powerhouse by buying business in fast-growing markets, plans to merge its Slando.ru and OLX.ru classified sites with Avito, the FT said in its online edition.The deal, which would create the world’s third-largest classified website, would also include Naspers investing $50 million in cash in…

Read more