| Mon 2 Jun 2008, 12:00 | | NPN - Naspers Limited - Announcement - MWeb |
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NPN
NPN
NPN - Naspers Limited - Announcement - MWeb
Naspers Limited
(Incorporated in the Republic of South Africa)
(Reg. No 1925/001431/06)
Share Code: NPN IZIN: ZAE000015889
("Naspers")
South Africa, 2 June 2008: Naspers Limited (JSE: NPN, LSE: NPSN) announced
today that, following approaches for the sale of its internet service
provider (ISP) business MWEB, it is initiating an auction process.
MWEB is one of the largest residential internet service providers in South
Africa and also owns the largest VSAT corporate internet base in sub-Saharan
Africa. In order to exploit its market leadership position in a rapidly
growing broadband environment, MWEB is planning to invest in wireless
broadband. This strategy, focusing on connectivity, diverges from Naspers`s
core focus of online content platforms, communities and commerce.
Naspers owns no ISP elsewhere in the world. It holds internet investments in
24.com, Tencent, Mail.ru and Gadu-Gadu, the leading online communities and
communication businesses in South Africa, China, Russia and Poland,
respectively. Via the recent acquisition of Tradus, it now owns leading e-
commerce platforms in central and Eastern Europe. In addition, Ibibo in
India, Sanook! in Thailand and MXit in South Africa continue to grow their
online communities. However, none of them have ISP components.
Citigroup has been appointed as financial advisor regarding interests
expressed by several potential investors.
2 June 2008
Cape Town
Sponsor: Investec Bank Limited
Contact details:
Mark Sorour
Group Chief Investment Officer
Naspers
+27 21 406 3008
+27 83 2 500 000
msorour@naspers.com
Steve Pacak
Group Chief Financial Officer
Naspers
+27 21 406 3585
+27 83 2 500 006
spacak@naspers.com
Important Information:
This announcement contains forward-looking statements. While these forward-
looking statements represent our judgements and future expectations, a number
of risks, uncertainties and other important factors could cause actual
developments and results to differ materially from our expectations. These
include key factors that could adversely affect our businesses and financial
performance. The Company will not undertake any obligation to (and expressly
disclaim any such obligation to) update or alter our forward-looking
statements whether as a result of new information, future events or otherwise
except as required by law or any appropriate regulatory authority. Investors
are cautioned not to place undue reliance on any forward-looking statements
contained herein.
About Naspers:
Naspers is a multinational media company with principal operations in
electronic media (including pay-television, internet and instant-messaging
subscriber platforms and the provision of related technologies) and print
media (including the publishing, distribution and printing of magazines,
newspapers and books).The group creates media content, builds brand names
around it, and manages the platforms distributing the content. Naspers`s
most significant operations are located in South Africa, where it generates
most of its revenues, with other operations located elsewhere in sub-Saharan
Africa, China, Russia, central and eastern Europe, the Netherlands, Brazil,
the United States and Thailand.
Date: 02/06/2008 12:00:01 Produced by the JSE SENS Department.
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