Netretail, a Czech Republic-based online retail holding company backed by Intel’s corporate venturing unit, has sold a controlling stake to MIH Allegro, a subsidiary of South Africa-based media group Naspers.

Klaus Konrad, investment director of Intel Capital, said: “During the period of our investment, Netretail’s management developed a strong operating team and implemented automated business processes and a state-of-the-art logistics centre.  This has enabled the company to fully capture the dynamic growth of the online retail sector in the region.”

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