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Prosus To Exit Russian Business, To Sell Stake In Avito

Dutch consumer internet group Prosus N.V. (PROSY, PROSF), majority-owned by Naspers, Friday said it has now decided to exit the Russian business, and to sell its shareholding in Russian classifieds business Avito.

On March 25, the company had announced the separation of Avito from its OLX Group. The latest decision follows the completion of this operational separation.

The company now said it has started the search for an appropriate buyer for shares in Avito.

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