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.
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/ 18 December 2007
South African media group Naspers and Tradus — formerly QXL Ricardo — have reached agreement on the terms of a recommended cash offer to be made by Naspers’s subsidiary Myriad International Holdings BV for the entire share capital of Tradus at £18 a share, it was announced on Tuesday.
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/ 18 December 2007
The JSE was lower at midday on Tuesday, playing catch-up after the public holiday on Monday when there was weakness in global equity markets. By 12.04pm, the JSE’s all-share index had pulled back 2,38%. The gold mining index fell 3,31%, resources lost 3,21% and the platinum mining index gave up 3,16%.