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Times Media to sell its stake in mapping firm

South Africa: Global location specialists TomTom have agreed a ZAR37.5 million (US$3.7 million) deal with Times Media Group (TMG) to buy a 51% stake in South African MAP Integration Technologies (MapIT).

TMG said the sale was part of its “turnaround strategy” to “exit non-core businesses”.

The group added, “One such business is MapIT, which falls within the Company’s Books division.”

Source: Human IPO