A near £1 billion takeover for online auctioneer Tradus by South African media firm Naspers has been cleared by a regulator.

The £946 million deal was given the ok by competition chiefs in Poland, one of Tradus’ main operating bases, the firm said.

Formerly known as QXL Ricardo, it conducts internet auctions across 11 European countries and agreed an £18-a-share offer from Naspers in December.

In a statement, Tradus said the President of the Office for the Protection of Competition and Consumers in Poland had unconditionally cleared the proposed acquisition, and it was likely to take effect from next month.

Posted: 02|18|08 at 9:13 pm. Filed under: UK News.