Naspers and Prosus share rout wipes out more than R300bn in value
Tech companies caught in the crosshairs of geopolitics as US adds Tencent to its blacklist of Chinese firms
07 January 2025 - 11:37
UPDATED 07 January 2025 - 23:09
Naspers and international associate Prosus crashed as much as 10% on Tuesday as the tech companies found themselves in the crosshairs of geopolitics after news that the group’s largest investment, Tencent, had been added to a US blacklist.
Naspers shares plunged 10.1% to end at their worst level of the day at R3,740.04, while Prosus dropped 8.38% to end at R681.23 after clawing back a little of its intraday loss of 9.64%. The moves wiped out more than R300bn in value as investors fretted about the implications of the US action...
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