Naspers spin-off Prosus is planning to expand its grocery services using “dark stores” as competition booms in the global market for food delivery.
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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.
Prosus on Wednesday announced plans to acquire up to 45.4% of shares in parent Naspers in a deal aimed at moving part of the value of their massive stake in Tencent to Europe from Africa.
Prosus suffers from the same problem as Manchester City Football Club: Because everyone knows it has access to vast amounts of capital, it’s always at risk of overpaying for acquisitions.
Investors in Naspers said on Thursday they want proceeds from a $14.7-billion stake sale in its Tencent Holdings investment to go towards blockbuster acquisitions or a share buyback.