Pick n Pay has warned of a slump in profits in the first four months of the trading year even as online sales surged.
Browsing: Naspers
The removal of the cross-holding structure will let Naspers continue its share buyback programme.
Inflation and rising interest rates in South Africa are two factors that Naspers has pointed to for a loss at Takealot.
Naspers on Tuesday reported a 78% slump in annual profit, led by a drop in the contribution from Tencent.
Mastercard and PayU have joined forces to launch Click to Pay as a way to speed up online payments in South Africa.
The tech investor warned its profit dropped significantly last year due to impairments and lower contributions from Tencent.
Prosus is exploring potential divestments from fintech company PayU, according to people familiar with the matter.
Naspers-owned Prosus has continued its selloff of China’s Tencent, bringing its stake in the Chinese internet giant to under 26%.
Takealot says Amazon.com’s plans to launch its e-commerce business in the country show the market is poised for growth.
Tencent Holdings tumbled by the most in seven weeks amid speculation its controlling shareholder, Naspers-controlled Prosus, may speed up selling shares.