South Africa's Naspers buys British firm Tradus for $1.9b

Tradus, the online auctioneer formerly known as QXL Ricardo, said it agreed to be bought by South Africa's Naspers in a deal that values the business at about 946 million pounds ($1.91 billion), an Associated Press report said.

The Associated Press report said Cape Town, South Africa-based Naspers is offering 1,800 pence ($36.31) per Tradus share, representing a premium of about 19% to the closing share price on November 6, the last business day before British-based Tradus said it had been approached about a possible offer.

Naspers is a multinational media company with principal operations in electronic media and print media. Naspers' most significant operations are located in South Africa, where it generates approximately 73% of its revenue, the report said.

'Naspers has prioritised the internet sector for expansion,' the company said in a statement. 'Central and Eastern Europe have also been identified as attractive emerging markets.'