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Naspers invests R4.7bn in e-commerce

Nov 28 2012 09:08
Reuters
Koos Bekker

Naspers boss Koos Bekker (AFP)

Company Data

NASPERS LIMITED [JSE:NPN]

Last traded 2962
Change -23
% Change -1
Cumulative volume 581423
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Naspers [JSE:NPN] plans to purchase more e-commerce companies after making R4.7bn in acquisitions in the six months leading up to September this year, according to a media report on Wednesday.

Naspers CEO Koos Bekker said the company would make as many as 20 more acquisitions in e-commerce leading up to March of next year, according to Business Report.

Naspers CFO Steve Pacak said the company had found e-commerce companies to be more reasonably priced in the first seven or eight months compared to the previous year.

He said sellers had dropped their price expectations following the less than anticipated results of Zynga, Groupon and the Facebook initial public offering.

Naspers e-commerce revenue increased by 61% to nearly R4bn.

However, about R1bn in spending on development left it with a trading loss of R767m.

 
naspers  |  koos bekker  |  e-commerce

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