Walmart outbids Amazon as Naspers pockets $2.2bn from Flipkart sale
Naspers announced the sale of its 11.18% stake in Indian ecommerce company Flipkart, to US-based retailer Walmart for $2.2bn, representing an IRR of approximately 32%.
Naspers announced the sale of its 11.18% stake in Indian ecommerce company Flipkart, to US-based retailer Walmart for $2.2bn, representing an IRR of approximately 32%.
Two of the fiercest rivals in online classifieds, South Africa’s Naspers and Norway’s Schibsted, said they would team up in some emerging markets, including fast-growing Brazil where they have battled each other for years.
The man who built Naspers, former CEO and soon to be chairman Koos Bekker, is currently on his second year-long sabbatical. As might be expected, the culture which stood the business in such good stead is deeply entrenched in the thinking of the new CEO Bob van Dijk. In today’s CNBC Africa Power Lunch interview, … Read more