{"id":40236,"date":"2013-06-19T10:56:58","date_gmt":"2013-06-19T08:56:58","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=40236"},"modified":"2013-06-19T12:00:53","modified_gmt":"2013-06-19T10:00:53","slug":"naspers-to-buy-indias-redbus-for-r1-4bn-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/40236\/naspers-to-buy-indias-redbus-for-r1-4bn-report\/","title":{"rendered":"Naspers to buy India\u2019s RedBus for R1.4bn: report"},"content":{"rendered":"

South African media giant Naspers<\/a> is set to enter yet another emerging market through a controlling stake in India based online bus ticketing firm RedBus<\/a> according to a report in the Economic Times.<\/p>\n

Various reports have the deal at between $100 million and $140 million.<\/p>\n

\u201cIt is our company policy not to comment on press speculation,\u201d Naspers told BusinessTech.<\/p>\n

Shares in Naspers continue to reach new records on the JSE, trading at approximately R750 in the mid-morning session, although R7.08 off its closing price, but not far off its record price of R762.60.<\/p>\n

Naspers has a market cap of R312.04 billion.<\/p>\n

The Indian publication said that Naspers arm MIH, \u201cis in advanced negotiations with RedBus\u201d, citing people directly familiar with the matter.<\/p>\n

RedBus is India’s largest bus ticketing platform, issuing 10 million tickets with gross sales nearing $200 million, annually. The group was started by a group of friends in 2006.<\/p>\n

In November, Naspers said it planned to purchase more e-commerce companies after making R4.7 billion in acquisitions in the six months leading up to September 2012.<\/p>\n

Naspers CEO, Koos Bekker<\/a> said the company would make as many as 20 more acquisitions in e-commerce leading up to March.<\/p>\n

Naspers expects to publish its results for the year ending March 2013, next week (25 June).<\/p>\n

The group\u00a0says it expects core headline earnings per share for the year ending March 2013, to be between 15% and 25% higher than the comparable period\u00b4s R18.50.<\/p>\n

Nasper\u2019s principal operations are in internet platforms, pay-television and the provision of related technologies and print media including publishing, distribution and printing of magazines, newspapers and books.<\/p>\n

Locally, it owns online retailers,\u00a0Kalahari.com<\/a>\u00a0and PriceCheck, pay television operation\u00a0DStv<\/a>, and Supersport, and\u00a0Mweb<\/a>.<\/p>\n

The group holds interests in Russian Internet firm\u00a0Mail.Ru Group<\/a>, and Chinese group,\u00a0Tencent<\/a>.<\/p>\n

More on Naspers<\/h3>\n

Naspers sees full-year earnings rise<\/strong><\/a><\/p>\n

Naspers hits new record on Tencent profit rise<\/strong><\/a><\/p>\n

Naspers in $570m Russian internet deal<\/strong><\/a><\/p>\n

Mail.Ru a cash cow for SA firm<\/a><\/strong><\/p>\n

Naspers associate to pay out special dividend<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Naspers is set to enter yet another emerging market through a controlling stake in India based online bus ticketing firm RedBus.<\/p>\n","protected":false},"author":10,"featured_media":15768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[78,26,3092,2511,2946,109,38,107,5854,6095,1977],"class_list":["post-40236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-dstv","tag-headline","tag-kalahari-com","tag-koos-bekker","tag-mail-ru-group","tag-mih","tag-mweb","tag-naspers","tag-pricecheck","tag-redbus","tag-tencent"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=40236"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40236\/revisions"}],"predecessor-version":[{"id":40248,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40236\/revisions\/40248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/15768"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=40236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=40236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=40236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}