Online auctioneer Tradus has agreed a £946 million takeover by South African media firm Naspers in the latest sign of renewed interest in internet companies.

Tradus, formerly known as QXL Ricardo, which conducts internet auctions across 12 European countries including Russia and Poland, has backed an 18-a-share offer from the company which owns the Daily Sun newspaper and pay TV firm Multichoice.

South Africa-based Naspers’ shares tumbled as much as 11pc as investors worried the surprise buyer was paying too much for QXL, which is renaming itself Tradus.

Naspers said the deal would extend its reach into central and eastern Europe, particularly Poland, where the online auction house generates most of its money.

Naspers has offered £18 for each Tradus share, representing a 19pc premium to the mid-market closing share price on November 6, the day before it said it had received an approach.

Tradus shares leapt 195p to £18.15 on market speculation of a possible counterbid from China’s Alibaba or US giant eBay.

Posted: 12|20|07 at 10:12 am. Filed under: UK News.