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Oct 06 2008

Naspers buys Hungarian auction platform

Published by at 10:32 am under Companies

Now, now. Let’s test my theory

I’ve been saying “abroad” has become a nice place for SA companies to do things “behind the backs of shareholders”, ie. without telling what they’re up to. This can be dangerous for local shareholders (witness the Sasol episode of last week).

On 3 October Naspers bought the Hungarian internet trading platform Vatera.hu for $9 million. Let’s see how long it takes either Tradus, MIH, or Naspers to release a press statement on the acquisition – if they do it at all. Also read here

No big deal, because only $9 million is involved? Maybe on its own, but this is the third such deal for Naspers (via MIH) since March in Europe. The most recent acquisition (roughly 4 weeks ago) was Austrian auction platform OneTwoSold.at, which has since had its name changed to Ricardo.at. That deal also stayed unreported in South Africa. 

There’s a pattern here, which SA shareholders and analysts are most certainly interested in…

2 responses so far

2 Responses to “Naspers buys Hungarian auction platform”

  1. adminon 06 Oct 2008 at 4:51 pm

    Tradus responded to my enquiry and apparently a press statement on Vatera.hu will be released “tomorrow, or the day after…”. Interesting, considering the deal was first announced in Hungary on 3/10. Christo

  2. adminon 09 Oct 2008 at 7:09 pm

    MIH Internet Europe (previously Tradus) issued a press statement on the Vatera acquisition earlier this week. Thanks.

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