Naspers to buy share in Digital Sky Technologies

Mergers, Acquisitions and Financial Results

Listed media company Naspers will buy 28.7 percent of one of Russia's leading internet firms, it said on Wednesday. It would purchase the stake in Digital Sky Technologies (DST) in cash and shares, according to a statement.

The company would  exchange its 39.3 percent stake in its Russian unit Mail.ru which it co-owned along with DST, and it would  also pay a further US388 million (R2.9 billion) for the 28.7 percent stake.

Naspers comprises a broad-based media group operating in 129 countries. Its principal operations are in internet platforms, pay-television and the provision of related technologies and print media.

The group's most significant operations are located in emerging markets including South Africa and elsewhere in Africa, China, Central and Eastern Europe, India, Latin America, Russia, Thailand and the Netherlands.