March 18th, 2009

South African firms buys auction site TeszVesz; deal follows Vatera purchase

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MIH Internet Europe, the online division of South African media company Naspers, has bought the online auction site TeszVesz from Finnish publishing giant Sanoma, the website of business daily Napi Gazdasag reported on Wednesday.

Naspers bought Vatera.hu for HUF 3.7bn in October 2008, therefore the company now owns about 90pc of the Hungarian online-auction market.

Both sites announced that they will introduce a per-item upload fee, which could represent a significant amount for some users.

Vatera.hu and TeszVesz had previously charged only 4-6pc of the price for every successful auction.

Vatera.hu has about 600,000 registered users, while TeszVesz has 400,000 registered users.

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