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.
Browsing: Prosus
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 is planning to expand its grocery services using “dark stores” as competition booms in the global market for food delivery.
A patch of virtual land in the blockchain-based online world Decentraland sold for more than R13-million on Thursday, in a record purchase for the platform.
Naspers spin-off Prosus has acquired a majority stake in GoodHabitz, a European provider of online training for businesses, for €212-million.
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.
Ultimately, investors may have to learn to live with the valuation gap between Naspers and Tencent. And management may have to ignore complaints about it and focus on growing Prosus’s investments.