EDITORIAL: Van Dijk under renewed pressure over Tencent
Share rout of Prosus and Naspers came on the back of resurgent concerns about the fate of foreign investments in China
Since taking the helm at Naspers, part of a cross-holding entity with Europe’s biggest internet company, Prosus, Bob van Dijk has consistently come under pressure for holding a stake worth hundreds of billions of rand in Tencent.
But it is not like the pressure he saw this week. Shares in Prosus, which owns about 29% of Chinese internet powerhouse Tencent, crashed more than 15%, its biggest one-day fall yet. Naspers, which shares the same board with Prosus, slumped 17%. That wiped off more than R430bn in combined value of the two companies, the shares of which are widely held by fund managers, pension funds and mutual funds...
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