May 12, 2017 / 4:03 AM / 3 months ago

RPT-BRIEF-Schibsted to pay $400 mln to Telenor in online classifieds deal

(Repeats from late Thursday)

May 11 (Reuters) - Schibsted Asa

* Will make a cash payment of $400 million to telenor regarding asia, latam online classifieds assets deal

* Will finance amount with debt, and has available funding

* strengthens its position in the rapidly growing Brazilian online classifieds site OLX.com.br by increasing the ownership from 25 to 50 percent

* Additionally, Schibsted increases its ownership from 50 to 100 percent in the market leader in Chile, Yapo.cl, and creates a strong online classifieds cluster in Latin America with leading positions in 5 countries in the region

* OLX Brazil is the by far biggest online classifieds site in Brazil, with 6.3 million daily active users. This represents a daily reach of 5 percent in Brazil Source text: bit.ly/2ppoTux Further company coverage: (Reporting By Terje Solsvik)

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