The Chinese Internet giant, in which South Africa’s Naspers holds a 31.2% stake, has tumbled 25% from its January peak, erasing about $140-billion of market value.
Naspers is considering the listing of certain parts of its sprawling global media and technology business outside South Africa as the continent’s largest company by market value seeks to reduce its size.
Chinese Internet giant Tencent, in which South Africa’s Naspers has a 31.2% stake, is planning to spin off its online music entertainment business and list its shares in the US through a public offering, the company
Naspers has put aside the proceeds of share sales in Chinese Internet giant Tencent and India’s Flipkart to pay for new investments due to the abundance of opportunities in its preferred media and technology markets
Naspers expects to report an increase in earnings for its most recent financial year, bolstered by Chinese Internet giant Tencent and various e-commerce businesses. Core headline earnings per share, which exclude