Naspers takes full control of Russian classifieds site Avito in $1.16B deal

The South African Internet conglomerate Naspers is best known for its support to the Chinese tech giant Tencent, but it also operates an extensive network of online classifieds businesses. This network has just expanded a little more after Naspers took full control of the Russian company Avito with a new investment of $ 1.16 billion, all in cash, to strengthen its participation in more than 99 %. Avito is Russia's leading classified site, with 10.3 million unique visitors per day. It currently has nearly 47 million listings covering categories such as property, automobile, real estate, jobs and services. The transaction,

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