Naspers to invest $1b in India this year in search for the next Tencent

Naspers to invest $1b in India this year in search for the next Tencent

Employees collect Diwali greeting cards at a security desk ahead of delivery at the Flipkart Online Services Pvt office in the Jayaprakash Narayan Nagar area of Bengaluru, India. Photographer: DHIRAJ SINGH/Bloomberg

Naspers Ltd. wants to spend about $1 billion in India this year as it scours the globe for investments that can replicate its blockbuster bet on China’s Tencent Holdings Ltd., a person familiar with the matter said.

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