Tuesday, 26 June 2012

Big player set to make Zawya a headline act - The National

Basil Moftah and Russell Haworth have just pulled off something of a coup in the Middle East internet space.

The two executives run the regional arm of Thomson Reuters, a global information conglomerate, and this week they picked up Zawya, probably the region's best known business website, for about US$40 million (Dh146.9m).

There were others in the bidding, including the Financial Times owner Pearson, as well as Emap, a British company that owns the website AMEinfo based in the UAE. But Thomson Reuters got it - not exactly for a steal but for less than some in the market had suggested.

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