Prosus to buy shares in parent Naspers as valuations lag Tencent stake

Prosus to buy shares in parent Naspers as valuations lag Tencent stake

Photo: Bloomberg

Amsterdam-based technology investor Prosus NV announced plans on Wednesday to acquire up to 45.4% of shares in its parent Naspers of South Africa by issuing new Prosus shares in a deal aimed at moving part of the value of their massive stake in Tencent to Europe from Africa.

Naspers, which has a controlling stake in Prosus and would retain control, hopes the deal will improve valuations for both companies.

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