New Tencent plan is welcome news for shareholders in Naspers and Prosus, who have borne the brunt of a regulatory crackdown on Chinese tech firms
Naspers, a widely held stock by money managers, pension funds and retail investors, is in for a R100bn payday after Tencent unveiled a plan on Wednesday to distribute its stake in Chinese food delivery business Meituan to shareholders.
Tencent’s announcement is good news for its largest investor, Naspers, which owns the stake indirectly via its Dutch-listed e-commerce business, Prosus. Naspers has underperformed in the stock market over the past two years, shedding more than half its value as it bore the brunt of Beijing’s brutal crackdown on tech firms...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JSE opens to green screens on Tuesday as Tencent surgesTencent, which influences the local bourse via Naspers and Prosus jumps 9.59%
Read more »
Los Blancos Get New R1.7m Electric Cars Courtesy Of New Sponsor | SoccerladumaLos Blancos were treated in true Galaticos style as their ballers were handed keys to brand new BMW electric rides! ⚡️ Check it out! ➡️ FanPark
Read more »
Business Maverick: Stocks rise as traders weigh China data, Fed rates: markets wrapAsian stocks and US futures climbed on Tuesday as investors weighed China’s economic outlook and the Federal Reserve’s interest-rate path.
Read more »
Oil prices fall on fears of lower China demandRolling lockdowns and surging Covid numbers seen as downside risk
Read more »
Asian shares mixed as investors eye effects of China Covid changesNew Chinese industrial numbers also not encouraging
Read more »