Naspers share-swap deal passes its first hurdle in Amsterdam
The exchange offer is expected to be launched tomorrow and will close on August 13
Shareholders in Amsterdam-listed Prosus took the first step on Friday towards enabling a complex share-swap deal which aims to enhance its value and that of parent Naspers by tackling the deep discount the shares trade at.
Now the group has to persuade enough shareholders in Naspers to swap their shares for Prosus shares to make the deal happen. And with 36 of SA's fund managers having raised their voices against it last month, that's by no means assured...