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McGregor BFA buying I-Net Bridge

Aug 08 2013 12:02 Fin24
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(Shutterstock)

Company Data

NASPERS LIMITED [JSE:NPN]

Last traded 1296.00
Change -3.32
% Change 0.00
Cumulative volume 507568
Market cap 540.19bn

Last Updated: 23/07/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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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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times media group  |  naspers  |  media
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