Bids flood in for Naspers’s MWeb

JOHANNESBURG – Naspers had received a dozen bids for its internet operation MWeb, which was put on sale early last month, Africa’s biggest media group said on Monday.

Naspers said it would hive off MWeb as it did not fit in with its strategy. It said “a dozen serious contenders” had showed interest in MWeb.The contenders could include Vodacom and MTN, both of which have expressed interest in the company.MWeb generated revenue of more than N$1 billion for the year to March, compared with N$853 million in the previous year.Naspers reported headline earnings growth of 38 per cent to N$3,9 billion.Naspers owns the country’s biggest newspaper, the Daily Sun.It operates a string of magazines, including You and Finweek.It owns pay television provider MultiChoice, as well as media and Internet businesses in countries such as China, India, and Russia.Revenue jumped 19 per cent to N$20,5 billion, driven by growth in the international internet business and the pay TV business, which added 246 000 new customers.MultiChoice has 2,5 million subscribers in Africa and makes up 45 per cent of Naspers’s business.Business ReportIt said “a dozen serious contenders” had showed interest in MWeb.The contenders could include Vodacom and MTN, both of which have expressed interest in the company.MWeb generated revenue of more than N$1 billion for the year to March, compared with N$853 million in the previous year.Naspers reported headline earnings growth of 38 per cent to N$3,9 billion.Naspers owns the country’s biggest newspaper, the Daily Sun.It operates a string of magazines, including You and Finweek.It owns pay television provider MultiChoice, as well as media and Internet businesses in countries such as China, India, and Russia.Revenue jumped 19 per cent to N$20,5 billion, driven by growth in the international internet business and the pay TV business, which added 246 000 new customers.MultiChoice has 2,5 million subscribers in Africa and makes up 45 per cent of Naspers’s business.Business Report