SPH, Schibsted, Telenor, Naspers' online classifieds joint venture established

THE online classifieds joint venture is now established between Singapore Press Holdings, Norway's Schibsted Media Group and Telenor Group, and South Africa's Naspers.

On Friday, transactions closed after all conditions precedent were satisfied.

The online classified platform was announced on Nov 13, 2014, and will focus on four key markets, namely, Brazil, Indonesia, Thailand and Bangladesh.

The joint venture was established with the goal of allowing customers to buy and sell goods on better and more comprehensive marketplaces, and to enable businesses to share cost, expertise and people to more effectively market online classifieds to consumers.