Prosus’s new interim CEO inherits a conundrum from his predecessor: how to bridge the yawning gap between the value of the company’s stock and its assets.
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Ervin Tu, newly appointed Naspers and Prosus interim CEO, has promised investors stability and investment discipline.
Bob van Dijk is stepping down as CEO of both Naspers and its European-listed spinoff Prosus with immediate effect.
Naspers-owned Prosus has launched an aggregated generative AI tool called PlusOne across its portfolio of companies.
PayU has announced it will sell its Global Payments Organisation business for $610-million at its pivots to India.
The removal of the cross-holding structure will let Naspers continue its share buyback programme.
Naspers on Tuesday reported a 78% slump in annual profit, led by a drop in the contribution from Tencent.
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%.