Case No COMP/M.7447 - TELENOR/ SPH/ SCHIBSTED/ NASPERS BUSINESS

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 18/12/2014

In electronic form on the EUR-Lex website under document number 32014M7447

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 18/12/2014 C(2014) 10199 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying partyies:

Dear Sirs,

Subject: Case M.7447 – TELENOR/ SPH/ SCHIBSTED/ NASPERS BUSINESS Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 and Article 57 of the Agreement on the European Economic Area

1.On 19 November 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Schibsted ASA ("Schibsted", Norway), Singapore Press Holdings Ltd ("SPH", Singapore), and Telenor ASA ("Telenor", Norway) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the online classifieds businesses in Malaysia, Thailand and Vietnam of Naspers Limited ("Naspers", South Africa), by way of purchase of assets. The acquisition of Naspers businesses in Malaysia and Vietnam takes place through 701 Search Pte Ltd ("701", Singapore), a joint venture between Schibsted, SPH and Telenor.

The business activities of the undertakings concerned are:

- for Telenor: mobile and fixed telecommunications services;

- for Schibsted: print online media services and online classified services;

1OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision.

2OJ L 1, 3.1.1994, p.3 ("the EEA Agreement").

3Publication in the Official Journal of the European Union No C 427, 28.11.2014, p. 9.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.

- for Singapore Press Holdings: publication of newspapers, including the provision of online news content, online classifieds, radio broadcasting, event organisation, out of home advertising and property management;

- for 701: online classified services;

- for Naspers: internet services, including e-commerce services, such as online retail, online marketplaces, online comparison shopping, payments and other online services; pay television services and print media.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraphs 5(a) and (b) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission (signed) Alexander ITALIANER Director-General

4OJ C 366, 14.12.2013, p. 5.

2