THE SMART NEWS SOURCE | Feb 11 2012 00:56 | LAST UPDATED Feb 11 2012 00:56
ADVERTISE WITH US | CONTACT US | STORY TIP-OFFS | M&G NEWSLETTER    
Business | Companies

Naspers to auction off MWeb

 JOHANNESBURG, SOUTH AFRICA - Jun 02 2008 12:16


Multinational media company Naspers announced on Monday that, following approaches for the sale of its internet service provider business MWeb, it is initiating an auction process.

MWeb is one of the largest residential internet service providers in South Africa and also owns the largest VSAT corporate internet base in sub-Saharan Africa.

Naspers noted that in order to exploit its market leadership position in a rapidly growing broadband environment, MWeb is planning to invest in wireless broadband.

"This strategy, focusing on connectivity, diverges from Naspers's core focus of online content platforms, communities and commerce. Naspers owns no ISP elsewhere in the world. It holds internet investments in 24.com, Tencent, Mail.ru and Gadu-Gadu, the leading online communities and communication businesses in South Africa, China, Russia and Poland, respectively.

"Via the recent acquisition of Tradus, it now owns leading e-commerce platforms in central and Eastern Europe. In addition, Ibibo in India, Sanook! in Thailand and MXit in South Africa continue to grow their online communities. However, none of them have ISP components," Naspers said.

"Citigroup has been appointed as financial advisor regarding interests expressed by several potential investors," it added. - I-Net Bridge

CONTINUES BELOW
TOPICS IN THIS ARTICLE

Organisations
comment guidelines
  1. Please review our comment guidelines
  2. Post your comment in the block below and press "Post as ..."
  3. Please allow between 15 minutes and 48 hours for your comment to go live
  4. Racist, sexist or stupid comments will be terminated with extreme prejudice
blog comments powered by Disqus


LATEST ARTICLES IN THIS SECTION

Find your perfect match now!

I am a:
Looking for:
Age Range: to
Current Location:
Only show profiles with photos

@mailandguardian - Top stories & newsflashes
@NicDawes - M&G editor Nic Dawes
@ChrisRoperZA - Editor, M&G Online
@amabhungane - M&G Centre for Investigative Journ
@mgfeed - Our whole news feed

Advertisements
Contact Us | About Us | Story Tip-offs | Social media policy | Online Advertising | Print Advertising | Subscriptions | Topics A-Z | Mobile Sites | Privacy Policy | RSS Feed

All material © Mail & Guardian Online. Material may not be published or reproduced in any form without prior written permission.