A plan by Tencent’s major backer, Naspers-controlled Prosus, to further cut its stake in the company fuelled concerns among investors on Tuesday.
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Takealot Group has built a powerful platform that will stand it in good stead in an increasingly competitive market, said Naspers CEO Bob van Dijk.
When there is a deep valuation discount and pressure from its investors, Naspers can’t really time market tops and must appease with cash handouts instead.
Eskom said most of its workforce is in place following unlawful industrial action, though generation capacity has yet to improve.
The arm of South African Internet giant Naspers sold almost $4-billion worth of stock in JD.com that it got as dividends from investee Tencent.
Unlawful industrial action at Eskom’s power stations means South Africans will have to continue to endure stage-4 load shedding until at least Wednesday night.
Takealot Group, which includes South Africa’s biggest e-retailer, Takealot.com, increased revenue by 27% in the past year, and remained near breakeven during the period.
Ether and bitcoin reached their highest levels in 10 days on Sunday as the market showed some signs of stabilisation.
Shares of China’s Tencent fell as much as 2.5% after Prosus and Naspers said they would gradually sell shares in the firm.