It may not have delighted long-term Naspers investors, but last year’s listing of Prosus on the Amsterdam Stock Exchange appears to have thrilled traders, who like nothing more than to trade apparent or contrived discrepancies in share prices.

Ahead of the listing they had only one discount to play, that between Naspers and Tencent; now they have two — the one between Prosus and Tencent and a second between Prosus and Naspers...

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