Jan 25 (Reuters) – South African media and e-commerce firm Naspers is investing $1.16 billion in Avito to acquire a bigger stake in the Russian classified advertising platform, parlay bola jalan it said on Friday.
The cash investment will take Naspers’ stake in Avito to 99.6 percent from 70.4 percent on a fully diluted basis.
The news confirms a Reuters report from earlier on Thursday that Naspers was in talks to increase its stake in Avito.
(Reporting by Tanishaa Nadkar and Pushkala Aripaka in Bengaluru; Editing by Sai Sachin Ravikumar)
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