Naspers targets AutoTrader acquisition: report
Naspers is seeking Competition Commission approval to buy AutoTrader, according to a report by Fin24.
Naspers has filed an application with the Commission to approve the acquisition, with “classifieds a core segment for Naspers and auto verticals part of its strategy”, Naspers investment relations officer Meloy Horn told Fin24.
AutoTrader turned 25 this year, and recently ended the publication of its print magazine.
Its website was started in 1998, and is among one of the most visited sites in South Africa today.
“It was in 2008 that we realised our magazine had a shelf life. The Internet was developing so fast, and the possibilities of what could be done online were so vast,” said AutoTrader on the closing of its magazine.
Naspers already has stakes in multiple eCommerce and online classifieds sites, including OLX and Takealot.
Read: Naspers doesn’t have another genie in the bottle: opinion
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