Naspers investors seek big deals, share buyback after Tencent windfall

Photo: Bloomberg

Investors in Naspers Ltd – Africa’s biggest company – said on Thursday they want proceeds from a $14.7 billion stake sale in its Tencent Holdings investment to go towards blockbuster acquisitions or a share buyback.

Naspers‘ Dutch-listed subsidiary Prosus NV sold a 2% stake in the Chinese gaming and social media giant on Thursday in the world’s largest-ever block trade, reducing its stake to 28.9%.

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