Internet auction firm $946m takeover

Online auctioneer Tradus today agreed a £946m (€1.3bn) 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.