Tencent to sell stake in Singapore group for R48bn, to help fund 'social...
Tencent is seeking to sell a stake in Singaporean online gaming and e-commerce company Sea Ltd. to raise as much as R48 billion for new initiatives and philanthropic efforts to aid wealth redistribution.
View Article'Value is not at all reflected in the stock.' CEO buys R155m in Prosus shares
Prosus CEO Bob van Dijk has purchased about R155 million of the company's shares on the open market, the company has revealed.
View ArticleMetaverse crackdown: Naspers and Prosus slump as Tencent leads China tech...
Chinese technology shares slumped for a second session on Monday - on course for their worst two-day drop since July - thanks to renewed fears Beijing may roll out more restrictions for private...
View ArticleLondon Stock Exchange suspends trading in Russian firm part-owned by Naspers
The London Stock Exchange has suspended trading in the VK Group, the Russian media company which is 25.7% owned by Prosus.
View ArticlePODCAST | SA Money Report: The Putin crony, the Naspers money and tensions in...
This week, SA Money Report journeys in the heart of war, and comes back with a tale about Naspers' exposure in Russia, and its ties to VKontakte, whose 38-year-old CEO Vladimir Kiriyenko was sanctioned...
View ArticleProsus writes off R10bn stake in Russian social media site, directors resign
Prosus, a subsidiary of Naspers, will be writing down the full $700 million (roughly R10 billion) carrying value of its stake in Russia's biggest internet company.
View ArticleEU joins US Treasury in sanctioning head of Naspers-linked Russian social...
The EU has joined the US in sanctioning the head of Russian internet company the VK Group, in which Prosus – a subsidiary of Naspers - has a minority share.
View ArticleNaspers slumps more than 14% following Tencent's shock drop
Naspers and its subsidiary Prosus, which holds a 29% stake in the Chinese tech giant Tencent, came under pressure after big losses in Tencent on Monday.
View ArticleNaspers loses R100 billion in value in a single day as Tencent woes bite
Naspers and Prosus have now lost more than half their value over the past year.
View Article'The market is crazy.' Relentless selling hits Tencent and other Chinese stocks
Chinese stocks suffered another deep selloff on Tuesday as concerns about the country’s ties with Russia and persistent regulatory pressure sent shares on a downward spiral.
View ArticleRussia's VK is facing a debt crunch - but shareholder Prosus says it won't be...
Prosus says it has no exposure to debt held by Russian internet company the VK Group, which has warned it may struggle to pay its debts if bondholders demand early redemption.
View ArticleNaspers unit, Egypt’s biggest bank invest in fintech firm Lucky
Lucky, which counts Lorax Capital as an investor, raised $25 million in a funding round led by Nclude. Naspers unit PayU, Global Ventures, National Bank of Egypt, Venture Souq, Banque Misr, Banque du...
View ArticleDays are numbered for brick phones as govt looks to roll out basic data on...
To meet the expected demand for smartphones, government would have to look at setting up local manufacturing facilities and move away from being reliant on imports.
View ArticleTencent declares ‘reckless’ tech era over as growth tanks
Tencent pledged to embrace China’s new paradigm of stricter government oversight after reporting its slowest growth on record, declaring the end of an era that nurtured some of the world’s largest and...
View ArticleNaspers remains 'firm believer' in Tencent's prospects, says CEO Bob van Dijk
Naspers CEO Bob van Dijk says the company and its subsidiary Prosus remain "firmer believers" in Tencent’s prospects amid continued uncertainty about the Chinese government’s crackdown on technology...
View ArticleNaspers Foundry invests R40 million in agritech startup Nile
Agritech startup, Nile, which was founded in 2020, leverages digital solutions to allow farmers to reach better-yielding markets
View ArticleTencent’s revenue misses estimates after growth evaporates
Tencent's revenue missed estimates, after a sweeping government crackdown and Chinese economic malaise wiped out growth at the internet behemoth.
View ArticleNaspers, Prosus hit by earnings decline, to start selling off Tencent stake...
Naspers and its subsidiary Prosus will slowly be selling off parts of its stake in Chinese tech giant Tencent in order to fund an open-ended programme to repurchase its own shares.
View ArticleTencent leads Chinese tech losses as Naspers, Prosus sale 'hurts' market...
Chinese technology stocks fell as a plan by Tencent's major backer to further cut its stake in the company fueled concerns more investors may look to take profits following a strong rally.
View ArticleFuturegrowth plans R600m fund to invest in SA startups
Futuregrowth is raising a R600 million fund to invest in local startups
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