Chinese gaming and social media group Tencent Holdings, partially owned by Naspers spin-off Prosus, on Wednesday reported a market-beating 26% jump in quarterly sales, helped in part by its online gaming business.
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Pony Ma, founder of Naspers affiliate Tencent Holdings, China’s biggest social media and videogames company, met with antitrust watchdog officials this month to discuss compliance at his group, sources said.
Pony Ma’s Tencent Holdings has been put on notice. Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online empire.
Jumia Technologies is expanding in online food delivery as the pioneering Africa e-commerce business looks to grow beyond its main market of trading phones and electronics.
In a surprise development, Takealot.com has announced that its CEO, Kim Reid, is stepping down from the role. He is not leaving Takelot, though – he will become chairman of South Africa’s largest online retailer later this year.
Whenever Naspers and Prosus management address any of their stakeholders, somebody will ask what they’re doing to address the discount of the Naspers share price to its underlying net asset value.
Naspers and Prosus CEO Bob van Dijk does not expect Amazon.com to enter South Africa’s e-commerce sector “any time soon” given the “really good job” being done by Naspers subsidiary Takealot.com.
When faced with such a strong influx from investors, even sell-side analysts have thrown in the towel, upgrading their price targets to chase after the stock surge.
Naspers is looking at ways to reduce its dominance of the JSE, an issue that is hampering efforts to narrow a widening valuation gap between the company and its stake in Chinese Internet giant Tencent.
South Africa’s main share index jumped 2.1% as of 10.07am in Johannesburg, setting a fresh intraday record, as Naspers was lifted by a surge in partly owned Chinese online giant Tencent.