For more financial news, go to the News24 Business front page. Read moreProsus sells online ads business to Russian businessmanNaspers subsidiary Prosus is selling its Russian online classifieds business Avito to 45-year-old Russian businessman Ivan Tavrin. Subsidiaries of Tavrin’s Kismet Capital Group will buy the business for 151 billion roubles (R44 billion). Earlier this year, Bloomberg reported that analysts had previously valued the company at around $6 billion (R110 billion at current exchange rates). When Naledi was placed into business rescue following unsustainable financial losses, it had 211 employees.

Source: News 24 October 17, 2022 09:04 UTC