CAPE TOWN, South Africa & FORNEBU, Norway & SINGAPORE--(BUSINESS WIRE)--Naspers Limited (JSE: NPN.SJ and LSE: NPSN), Schibsted Media Group (SCH:Oslo), Telenor Group (TEL:Oslo) and Singapore Press Holdings (SPH:SP) announced on 13 November 2014 an agreement to establish joint ventures for the development of their online classifieds platforms in four key markets – Brazil, Indonesia, Thailand and Bangladesh.
The transactions closed on 8 January 2015 after all conditions precedent have been satisfied, and the joint ventures are now established.
The establishment of the joint ventures will bring substantial benefits to consumers, as they will be able to buy and sell goods on better and more comprehensive market places. The businesses will also be able to share cost, expertise and people to more effectively build awareness of the benefits of a vibrant online classifieds offering to consumers.
Founded in 1915, Naspers is a broad-based multinational internet and media group offering services in more than 130 countries. Its principal operations are in ecommerce (i.e. classifieds, online retail, marketplaces, online comparison shopping, payments and online services), pay-television and print media. The group also has minority investments in listed, integrated social-network platforms Tencent (SEHK 0700) and Mail.ru (LSE: MAIL). Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com.
About Schibsted Media Group:
Schibsted Media Group is an international media group with approximately 6,900 employees and operations in 29 countries. Schibsted’s online operations engage almost 200 million people. Schibsted’s strategy comprises two main objectives: further development of our media houses and establishment of popular online classifieds services. Several of our media houses are among Europe’s leading online newspapers and pioneers in the fields of web TV, mobile and paid online services. The industry know-how which our media houses possess about the interaction between established and new media forms much of the basis for our ambitions for future growth. In recent years we have been systematically expanding our online classifieds business, both through acquisitions and organic growth. The online classifieds segment is a long-standing and important part of our business model. For more information about Schibsted Media Group, please visit www.schibsted.com.
About Telenor Group:
Telenor Group has mobile operations in 13 markets in the Nordic region, Central and Eastern Europe and in Asia, as well as an economic stake of 33 per cent in VimpelCom Ltd., operating in 14 markets. Headquartered in Norway, Telenor is one of the world's major mobile operators with 179 million mobile subscriptions in its consolidated operations per Q3 2014, revenues of NOK 104 billion in 2013, and a workforce of about 33,000. For more information, please visit www.telenor.com.
About Singapore Press Holdings (SPH):
Incorporated in 1984, main board-listed Singapore Press Holdings (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms. SPH has 19 titles licensed under the Newspaper Printing and Presses Act, of which nine are daily newspapers across four languages. On an average day, 2.8 million individuals or 69 per cent of people above 15 years old read one of SPH’s news publications. Beyond print, SPH’s suite of digital products includes online editions of newspapers and magazines, as well as mobile applications. Our online products enjoy 360 million page views with 23 million unique browsers every month. Other new media initiatives include AsiaOne, omy.sg, Stomp and SPH Razor. SPH has also ventured into book publishing, broadcasting, events, out-of-home advertising and properties. For more information, please visit www.sph.com.sg.
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