Naspers chairman Bekker says company has no plans to sell Tencent stake
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
NASPERS chairman Koos Bekker on Monday (Sep 18) said that the company has no plans to dispose of its large stake in China’s Tencent, held by Nasper’s Prosus subsidiary.
The 26 per cent stake in Tencent, valued at around US$100 billion, forms the bulk of the value of both companies. Naspers and Prosus have been gradually selling shares to repurchase their own shares, which trade at a discount to the value of the Tencent stake.
“We still believe Tencent is one of the best tech companies in the whole world,” Bekker said.
“We certainly don’t want to go down (in terms of ownership) took much and we certainly are not going to accelerate anything.”
Bekker’s remarks follow news CEO Bob van Dijk is stepping down, with M&A chief Ervin Tu appointed as interim CEO. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
