The Naspers-controlled Internet investment firm has agreed to pay as much as €1.8-billion to acquire a further 33.3% stake in Brazil’s iFood.
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A plan by Tencent’s major backer, Naspers-controlled Prosus, to further cut its stake in the company fuelled concerns among investors on Tuesday.
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.
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.
Tencent will hand a R258-billion JD.com stake as a dividend to its shareholders, raising questions about its plans for other holdings.
President Xi Jinping’s government is reining in the country’s most powerful corporations and their billionaire founders, including Alibaba Group, Tencent Holdings and Didi Global. But why?
China’s Internet sector wrapped up the third quarter earnings season with its slowest growth on record.
Google is preparing to launch a censored version of its search engine for China that will block results Beijing considers sensitive, The Intercept reported.
Internet giant Alibaba broke its own sales record of US$9,3bn during China’s “Singles Day” 24-hour online shopping binge on Wednesday, defying fears of an economic slowdown in the world’s