Naspers gets R100bn in good news from China
New Tencent plan is welcome news for shareholders in Naspers and Prosus, who have borne the brunt of a regulatory crackdown on Chinese tech firms
16 November 2022 - 15:57
UPDATED 16 November 2022 - 23:10
Naspers, a widely held stock by money managers, pension funds and retail investors, is in for a R100bn payday after Tencent unveiled a plan on Wednesday to distribute its stake in Chinese food delivery business Meituan to shareholders.
Tencent’s announcement is good news for its largest investor, Naspers, which owns the stake indirectly via its Dutch-listed e-commerce business, Prosus. Naspers has underperformed in the stock market over the past two years, shedding more than half its value as it bore the brunt of Beijing’s brutal crackdown on tech firms...
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