Tencent Holdings reported a 25% gain in quarterly revenue as China’s largest company sustained a boom in gaming and cloud that began during the Covid-19 pandemic.
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For now, Naspers and Prosus CEO Bob van Dijk has managed to figure out a short-term fix for his problem. Eventually he’ll need to think longer term. By Alex Webb.
Ultimately, investors may have to learn to live with the valuation gap between Naspers and Tencent. And management may have to ignore complaints about it and focus on growing Prosus’s investments.
Prosus on Wednesday announced plans to acquire up to 45.4% of shares in parent Naspers in a deal aimed at moving part of the value of their massive stake in Tencent to Europe from Africa.
The rand’s 30% gain against the dollar since the height of the pandemic has outstripped emerging-market peers – and the rally may not be over yet.
Cape Town-based education-technology start-up iXperience has secured $2.5-million in series-A funding from South African investment firms Kalon Venture Partners and Caleo Private Equity.
Enterprise software company SUSE set the price range for its initial public offering in Frankfurt at €29 to €34/share on Wednesday, implying a market capitalisation of as much as €5.7-billion.
The high court has ruled that Ayo Technology Solutions’ bid to overturn First National Bank’s decision last month to close the JSE-listed technology group’s banking facilities will not be heard on an urgent basis.
The problem with posting blowout numbers is that it raises the obvious follow-up question: Can you top this? For Apple and Facebook, the answer may be no, or not anytime soon.
China is preparing a substantial fine for Tencent Holdings as part of its sweeping antitrust clampdown on the country’s Internet giants, two people with direct knowledge of the matter said.