Naspers rearranges Prosus link
Doing away with crossholdings gets thumbs-up from market
So, here’s the story. Naspers’s subsidiary Prosus is continuing to make hefty losses but could be on track to make a profit in the first half of 2025. Of course, whether or not it does is not too important right now because the biggest part of the latest story is that the executive team is dangling yet another discount-reducing plan in front of its shareholders. shareholders. One that involves Naspers reducing its holding in Prosus to below 50. And that plan appears to have already worked.
Prosus’s communications director Charlie Pemberton stresses this does not mean there’s been a change of control because of the Naspers and Prosus B shares. “A key tenet of this transaction and of the share exchange offer in 2021 is that control of Prosus by Naspers does not change. This was fundamental to approval of both transactions by the regulators,” Pemberton tells the FM, adding that the reason this is important is to ensure that Prosus remains a controlled foreign company of Naspers f...
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