Takealot says Amazon.com’s plans to launch its e-commerce business in the country show the market is poised for growth.
Browsing: Naspers
Tencent Holdings tumbled by the most in seven weeks amid speculation its controlling shareholder, Naspers-controlled Prosus, may speed up selling shares.
A family trust linked to Naspers chairman Koos Bekker has offloaded the euro equivalent of R3.4-billion in Prosus, according to a regulatory filing.
Naspers is backing rent-to-buy car firm Planet42 in a $100-million debt and equity fundraising.
Prosus and its parent Naspers are planning to cut their corporate workforce by 30%, becoming the latest companies in global tech to announce layoffs.
The JSE reached an all-time high on Monday morning, led by South African technology and mining stocks.
Profitability decreased due to higher fuel surcharges, investments in new warehouses and discounted clearance of inventory, parent Naspers said.
Interim profit slipped 93% as the technology investor increased funding of its businesses and took a knock from Tencent.
Naspers shares were trading more than 5% lower on Tuesday after the JSE-listed technology investor warned about a big slide in earnings.
Tencent Holdings on Wednesday said it will distribute most of its stake worth R350-billion in food delivery firm Meituan to its shareholders.