EU Commission clears acquisition of Naspers' online classifieds businesses in Asia by Schibsted, Telenor and Singapore Press Holdings - as well as acquisition of Brazilian online classified business by Schibsted, Telenor and Naspers
The
European Commission has approved under the EU Merger Regulation the acquisition
of joint control over the online classifieds businesses of Naspers in Malaysia,
Thailand and Vietnam by Schibsted ASA of Norway, Telenor ASA of Norway and
Singapore Press Holdings Ltd of Singapore. Schibsted and Singapore Press
Holdings are international media groups, while Telenor is a telecommunications
operator. The Commission concluded that the proposed acquisition would not
raise competition concerns given that the target business will only operate in
Malaysia, Thailand and Vietnam and thus outside the European Economic Area
(EEA). Moreover, the companies' activities do not overlap. The operation was
examined under the simplified merger review procedure. More information is
available on the Commission's competition website, in the public case register under the case number M.7447.
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Also, the
European Commission has approved under the EU Merger Regulation the acquisition
of joint control over Bomnegocio Ativades Ltda of Brazil by SnT Classifieds ANS
of Norway and Naspers Limited of South Africa. Bomnegocio, currently solely
controlled by SnT, provides online classified services in Brazil. SnT is a
joint venture between Schibsted ASA, an international media group, and Telenor
ASA, a telecommunications operator, both of Norway. Naspers is a broad-based
global multimedia group. The Commission concluded that the proposed acquisition
would not raise competition concerns given that Bomnegocio will only operate in
Brazil and thus outside the European Economic Area (EEA). Moreover, the
companies' activities do not overlap. The operation was examined under the simplified
merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7446.
