Koos Bekker, outgoing CEO of JSE-listed media group Naspers, said on Tuesday afternoon that the group is “seriously investigating” business opportunities in Russia.
Presenting the group’s interim results from Cape Town during a conference call, Bekker told investors and analysts that the group is in talks with potential partners to tap into the Russian market.
“We are seriously investigating Russia,” he said.
The group has publicly said that it plans to make key investments in high-growth markets such as Brazil, China, Southern Africa, India and Russia.
However, Bekker said that it has proven too expensive for the group to buy into Indian companies. The group will instead start a new internet venture for the youth market in that country.
He added that the group’s major driver for the next few years will be its pay television network, buoyed by the Fifa 2010 Soccer World Cup.
“There’s an increasing competition for soccer rights, particularly from Nigeria and South Africa,” said Bekker, adding that the group will invest more in research and development for mobile television.
Naspers is also one of the companies that has applied for South Africa’s satellite broadcast licence, on which Bekker said the group expects the Independent Communication Authority of South Africa to make an announcement in the first quarter of next year.
Noting that the group’s internet business — M-Web — had a 338 000 subscriber base, Bekker said that broadband roll-out was improving, but “not fast enough”.
“While we are happy with growth of our broadband business, the roll-out of broadband has been very slow. It leaves our country way behind compared with other countries,” he said. — I-Net Bridge