The competition authorities yesterday gave online retailer Takealot a conditional nod to buy kalahari.com, one of Naspers' e-commerce firms, which would help form a formidable e-tailer to take on brick-and-mortar stores.
The deal proposes that Takealot's US-based parent, Tiger Global, gives up some shareholding to Naspers after combining operations of the e-commerce firms.
Last year Takealot raised more than R1-billion for expansion in both South Africa - where its estimated online transactions make up only about 1% of the R500-billion retail market - and elsewhere on the continent.
The Competition Commission asked that no more than 200 employees be laid off as a result of the merger.
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