Tencent investor Naspers plunges amid China’s crackdown on tech companies
The tech giant becomes the latest victim of Beijing’s antitrust blitz
26 July 2021 - 20:40
UPDATED 26 July 2021 - 21:40
Naspers lost more than R70bn of its value on Monday as its biggest investment — Tencent — became the latest victim of a continued crackdown by China’s government on technology companies.
By the close of trade on Monday, Naspers shares were down 7.18% at R2,748.01. This was in line with Tencent, of which Naspers holds about a third, which lost close to 8% of its value in Hong Kong...
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