China’s antitrust regulator is set to formally block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, three people familiar with the matter said.
Browsing: Naspers
Naspers and Prosus, the European-listed spin-off of Naspers, have appointed Ervin Tu as group chief of investments, strategy and mergers & acquisitions of both companies.
Naspers-controlled Takealot group reported revenue growth of 55% in the last financial year despite a ban on unfettered e-commerce during the height of the hard lockdown in 2020.
Prosus said its e-commerce business grew revenues and shrank trading losses for the year that ended 31 March, even as its overall profit continued to be dominated by its investment in Chinese technology giant Tencent.
Naspers reported a 24% rise in profit for the year that ended 31 March, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday.
Naspers spin-off Prosus has acquired a majority stake in GoodHabitz, a European provider of online training for businesses, for €212-million.
Naspers is participating in a R201-million funding round involving Cape Town-founded start-up WhereIsMyTransport, along with fellow investors Cathay AfricInvest Innovation Fund and SBI Investment.
Naspers-controlled Internet investment firm Prosus has agreed to acquire Stack Overflow, a platform used by software developers, for $1.8-billion.
A Swiss-based investment management firm says the proposed share swap between Naspers and Prosus is an “idiotic idea” that is certain to increase the discount with Tencent.
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.