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McGregor BFA buying I-Net Bridge

Cape Town - Times Media Group is selling I-Net Bridge for R115m to McGregor BFA, which is owned by Naspers [JSE:NPN], according to a SENS report released on Thursday.

I-Net provides a range of investment products comprising real-time and historical market data.

"I-Net’s future prospects are dependent on being able to compete in a relatively small, proprietary market with major international players," Times Media stated.

"I-Net further requires investment and a global presence to help retain a competitive offering and improve its prospects for sustainable growth."

The deal still needs to get the nod from the competition authorities.
 
Naspers acquired a controlling stake in McGregor BFA in 1998.


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