Why Naspers’s Prosus split has been a bust
Just Eat has just gone and the discount to its Tencent investment continues to widen. So what’s next for Prosus?
As megabillion-dollar plans go, the splitting out and separate listing of Prosus has been a monumental failure so far.
That’s if it is judged by the much-stated objective of reducing the discount between the Naspers share price and its underlying asset value, much of which is due to its share in Chinese tech giant Tencent.