Prosus to use Tencent proceeds for new acquisitions and stock
The subsidiary of Naspers targets Norwegian e-grocery business Oda and Indian health-care platform API Holdings investments
Naspers’s international internet arm Prosus will use proceeds from the recent partial sale of its stake in Chinese internet firm Tencent for $14.6bn (R211bn), to fund new acquisitions and invest in its own stock. The group is expanding into new areas and working to narrow its valuation gap.
On Thursday, Naspers said it had completed a transaction to reduce its stake in Tencent from about 30.9% to 28.9%...