In its annual report, Naspers, the South African media conglomerate, has reported that it invested ZAR 76 million (around $10.29 million at current rates) in 'Development Costs' in MIH India (Ibibo) during the financial year ended March 31st 2010. This is less than the ZAR 98 million it had invested in the company during the 2008-09 fiscal. What's also notable is that Chinese Internet major TenCent, which Naspers owns a small stake in, has only acquired 10% stake in MIH India so far. MediaNama readers may remember that in June 2008 TenCent had inked a deal that gave it the option of acquiring up to 50% in MIH India; in return, MIH India and its subsidiaries were given a license to use TenCent's technology and content in India, exclusive for seven years, along-with other support services. In its annual report, Naspers has reported that TenCent exercised its option for 6% in December 2008, and another 4% more recently, in March 2010. Thus, Naspers still owns 90%, though it treats MIH India has a joint venture with TenCent. Naspers also owns 30% in Mobile VAS company ACL Wireless, 36.1% in mobile advertising and content company Buzz City, and 43.6% in Mobile Instant Messenger and Internet Telephony service Nimbuzz. Ibibo To Launch Payment Platform? GoIbibo Crosses $1M Transactions Per Month Naspers annual results presentation lists "Ibibo Pay" as one of the company's initiatives, apart from e-commerce, Social Games and Mobile. So is Ibibo planning a payments module like eBay's Paisa Pay? Ibibo…
