It's a year since the complex deals in which Naspers hived off its international internet assets came to fruition with the listing of Prosus in Amsterdam, but the problem the listing was designed to solve is worse than ever.And with the group getting flak in the media, locally and abroad, Prosus and Naspers CEO Bob van Dijk has sprung to the defence of the strategy. But he has promised to do more to tackle the deep discount at which the market values the group's shares - which is wider now than before the group announced the deal. With Naspers's spectacularly successful 31% holding in Chinese internet platform Tencent still dominating group value and earnings, analysts say Van Dijk needs to start proving the worth of the group's other assets if he is to fix the fundamentals beneath the discount.Naspers is now trading at a 53% discount to the sum of its parts, including its 72% stake in Prosus. Prosus is at a 30% discount. If you put them back together they would be tra...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now