2 Jun 2008 12:00
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.
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.