Oct 25 2008
In a press statement released by MIH Internet Europe yesterday, Christian Unger, CEO of MIH Internet Europe, said a British trade journal called ACQ Finance Magazine has singled out the acquisition of Tradus, operator of auction platforms in 13 European countries, by Naspers as the “Deal of the Year 2008″.
Tradus was renamed MIH Internet Europe after the deal. Naspers is a media group with HQ in Cape Town.
Also look here for the press release (in German).
The Naspers share price dropped in the wake of the deal, on the widely reported view of analysts that Naspers had paid too much for Tradus.
(Unfortunately, I don’t know the magazine, ie. I don’t know how much standing and credibility it has in the market. I’ll put a few questions to it today, such as: What were the criteria; who were the others on the shortlist; is this for the internet only; did they take into account that analysts thought the price was too high).
I’ll report on the answers as soon as I got a response.)