Johannesburg - Shares of Naspers are up more than 3 percent after news a company in which it has an indirect stake is merging with another to form Brazil's leading online food delivery service.
Naspers will have an indirect 50.02 percent stake in the new company, IF-JE Participações, through its shareholding in Movile Mobile Internet.
IF-JE Participações was formed through the merger of the Brazilian business of Britain's Just Eat and iFood, whose four founders will retain a 24.98 percent joint shareholding. - Reuters