EDITORIAL: Share swap still keeps Naspers in the driving seat
Convoluted deal announced by CEO Van Dijk seems to have hit two birds with one stone and may help Naspers dodge a hefty tax bill
Naspers CEO Bob van Dijk, addressing investors and reporters last week in a conference call, touted the latest in a string of attempts he says can alleviate his long-standing corporate headache: a hefty valuation gap to the company’s component parts.
Van Dijk inherited an emerging-market internet powerhouse in 2014 thanks to its one-third stake in Tencent, whose ascent has made chair Koos Bekker’s $32m (about R450m in today’s money) bet on the then little known Chinese upstart in 2001 one of the most successful punts in corporate history. ..