Naspers questioned on tax implications of share swap
Deal is also intended to cut Naspers’s size on the local stock exchange and boost the free float of its global internet arm, Prosus
13 May 2021 - 20:20
Only a day after investors had to absorb a new plan by Naspers to address the long-standing gap between its market value and the sum of its parts, investment bank JPMorgan says the Cape Town tech investor must pay more tax. This adds to growing calls for large technology investors to pay taxes in their countries.
A share swap deal — also intended to cut Naspers’s size on the local stock exchange and boost the free float of its global internet arm, Prosus — is the latest in a string of attempts by CEO Bob van Dijk and his team to narrow the multibillion-rand valuation shortfall. ..
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