Technology investor Prosus will pay up to the equivalent of R2.1-billion in transaction fees when it buys a block of parent company Naspers’s shares, prompting criticism from investors.
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Tencent’s WeChat has temporarily suspended registration of new users in mainland China as it undergoes a technical upgrade “to align with relevant laws and regulations”.
Technology investor Prosus and sister company Naspers fell sharply in Amsterdam and Johannesburg trading after China’s move to place restrictions on the country’s education-technology sector.
Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.
Shareholders of technology investor Prosus on Friday approved a deal with parent Naspers that will move most of the economic value of the intertwined companies to Amsterdam.
China’s antitrust regulator is set to formally block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, three people familiar with the matter said.
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.
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.