South African media firm Naspers will join forces with Singapore Press Holdings and two Norwegian companies to accelerate their e-commerce businesses in four fast-growing emerging markets, the companies said.<\/p>\n
The four firms, which include Norway’s Schibsted ASA and Telenor ASA, said in a statement late on Thursday they would set up a series of joint ventures for their online classifieds businesses in Brazil, Indonesia, Thailand and Bangladesh.<\/p>\n
The size of the deal was not disclosed. The transaction is the latest move by Naspers to push further into lucrative online businesses in emerging markets.<\/p>\n
By focusing on e-commerce and media operations in fast-growing countries, Cape Town-based Naspers has transformed itself from an apartheid-era newspaper publisher into a $53 billion media and Internet giant.<\/p>\n
In both Brazil and Bangladesh, Naspers will split the ventures with SNT, a company jointly owned by the two Norwegian firms.<\/p>\n
In Indonesia, Naspers will take 64 percent of the new business, with the remainder owned by 701Search, itself a venture amongst Singapore Press and the two Norwegian companies.<\/p>\n
In Thailand, 701Search will own 56 percent and Naspers 44 percent.<\/p>\n
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