Tencent Shares on the block as Prosus appears to be financing buybacks

Tencent Holdings major shareholder scrapped a promise not to sell more shares in the Chinese internet giant before 2024, saying it would split its stake to fund a share buyback program.

The steps of the Internet conglomerate Prosus NV and its parent company, Naspers represents a renewed effort to narrow the gap between how the two investment firms are valued by the market and the value of their holdings in Tencent and other assets.

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