Naspers spin-off Prosus, which became Europe’s largest technology company this week, has always been something of a Gordian knot for investors.
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Naspers’s European-listed Internet investment holding company Prosus announced on Friday that it plans to acquire up to $5-billion in both Naspers and Prosus shares in a massive share buyback programme.
Just as the US government starts looking to rein in, or even break up, big technology companies in the belief they have too much power, China is going in the opposite direction.
The Trump administration lost a bid to enforce its prohibitions against the Chinese-owned “super app” WeChat in the US after appealing a judge’s ruling that the ban probably violates the free-speech rights of its users.
Ant Group plans to increase the valuation target for its initial public offering to at least $280-billion due to strong demand. That would make it worth more than three times US banking giant Citibank.
China is set to pass a new law that would restrict sensitive exports vital to national security, expanding its toolkit of policy options as competition grows with the US over access to modern technologies.
The US state department has submitted a proposal for the Trump administration to add China’s Ant Group to a trade blacklist, according to two people familiar with the matter.
Huawei Technologies, already getting squeezed out of Europe’s vast market for the next generation of telecommunications equipment, is under siege in another fast-growing business: cloud computing.
Huya has agreed to buy DouYu International Holdings in an all-share deal that will create a Chinese game-streaming giant with a market value of more than $11-billion.
Caught off guard by Tencent’s record-breaking rally earlier this year, Hong Kong’s stock investors are getting well prepared for the next one.