A flurry of large trades in Naspers affiliate Tencent shows Asia’s biggest stock will struggle to avoid its worst week in months.
Tencent’s accelerating sell-off could get a lot worse if the stock fails to hold above its key support level.
Naspers affiliate Tencent’s shares are dangerously close to losing a key support level.
One of Huawei’s biggest trade war headaches has just got worse, as an unofficial workaround to the Trump administration ban on using Google apps and services has been quashed.
Prosus, which listed in Amsterdam just last week, is splitting opinion among the first investment banks to cover the stock.
The astonishing things is that shareholders were asked to approve the new scheme – and did – without knowing what the performance condition was.
The dominance of Naspers over the South African stock market is about to be reduced – partially at least. And that’s good news for a number of fund managers.
Naspers said a newly created entity containing assets including a stake in Chinese internet giant Tencent Holdings will be valued at about $100-billion (R1.5-trillion).
Not all shareholders are perfectly happy with Naspers at the moment, which made the group’s AGM on Friday a livelier affair than usual.
Naspers is looking to invest in machine learning as Africa’s largest company seeks to expand following an Amsterdam listing of assets including a stake in Tencent Holdings.