Intel sells stake in CEE unit Netretail

Reuters News
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Posted: Jul 02, 2012 6:49 AM

PRAGUE (Reuters) - Intel Capital, the investment arm of technology giant Intel <INTC.O>, sold its stake in Netretail Holding, a central European online retailer, to MIH Allegro, a unit of South Africa's media and e-commerce firm Naspers <NPNJn.J>, Intel said on Monday.

It did not specify the size of the stake or the value of the transaction. It said that MIH Allegro now holds a controlling stake in the retailer after it also bought a stake held by MCI, a private equity group.

Netretail operates online shop chain Mall in the Czech Republic, Slovakia, Poland and Hungary.

(Reporting by Jana Mlcochova; Editing by Jon Loades-Carter)