Telenor buys into Asian, South American classifieds market

OSLO (Reuters) - Norwegian telecoms group Telenor entered the online classifieds market on Monday, taking a stake in a Southeast Asian venture and establishing a South American business, it said in a statement. Telenor will take a 33.3 percent stake in Southeast Asia focused 701 Search, an existing venture between Singapore Press Holdings and Norwegian publishing house Schibsted, and agreed to establish a 50/50 joint venture with Schibsted to create SnT Classifieds with a focus on South America. "Telenor pays around 145 million euros in cash for its 50 percent share in SnT Classifieds and 33. ...



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