Naspers’s operating assets are producing returns well below the cost of capital and operating profit has been and remains negative.

One reason for the discount is that Naspers/Prosus is investing and reinvesting in value-destroying endeavours.

Michael Avery speaks to Brian Kantor, an economist and former chief investment strategist of Investec Wealth & Investment, and David Holland, a co-founder of Fractal Value Advisors, about misaligned executive pay.

Michael Avery speaks to a panel about the pandemic of misaligned executive pay


Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.