Bob van Dijk Bloomberg | Bloomberg | Getty ImagesThe immediate and mutually agreed departure of Naspers and Prosus CEO Bob van Dijk underscores a complicated few years for a firm seen riding on the coattails of its holdings in Chinese tech giant, Tencent .
The South African Reserve Bank gave Naspers the greenlight to begin buying back more of its shares from Prosus.
'Getting rid' of the cross holdingPrior to the current structure, Naspers (headquartered in South Africa) owned a third of Chinese internet giant Tencent Holdings.
Van Dijk oversaw the decision to split off its holding of Tencent and other tech holdings into Prosus in 2019.
But that crossholding offered little value to investors with van Dijk telling Reuters at the time: "They [shareholders] said we don't like this cross holding, it creates complexity.
Persons:
Bob van Dijk, Naspers, Koos, Van Dijk, Prosus, crossholding, van Dijk, We've, we're, Erwin Tu, Tu, Goldman Sachs
Organizations:
Bob van Dijk Bloomberg, Bloomberg, Getty, South, Naspers, South African Reserve Bank, Tencent Holdings, Johannesburg Stock Exchange, Euronext, Reuters, Citi, SoftBank Group
Locations:
Dutch, Prosus, South Africa, Johannesburg, Naspers