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☆ Hong Kong’s biggest stock is ready for a turnaround, analysts say
▼ + stars: | 2024-04-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

The firm is overweight on Tencent shares, with a price target of 400 Hong Kong dollars ($51). Also helping analysts' optimism on the stock are Tencent's share buybacks. HSBC has a buy rating on Tencent, with a target price of 385 Hong Kong dollars. Pan said that low liquidity in Hong Kong has also affected share prices in that market, but he hopes that can improve with a new CEO. The Hong Kong exchange's co-COO Bonnie Chan is set to become head of the business in late May.

Persons: Morgan Stanley, Gary Yu, Morgan Stanley's Yu, Tencent, Prosus, Charlene Liu, HSBC's, Grant Pan, Noah Holdings, Pan, Hong Kong exchange's, Bonnie Chan, — CNBC's Michael Bloom Organizations: Hong, Jefferies, Naspers, Internet, Gaming Research, HSBC Locations: Hong, Hong Kong, Asia, Japan, Netherlands, Tencent, 1Q24, Asia Pacific, HKD500m, China

☆ Amazon to launch online shopping service in South Africa in 2024
▼ + stars: | 2023-10-17 | by ( Nqobile Dludla | ) www.reuters.com time to read: +2 min

South Africa will be Amazon's 21st country with a local domain name-based website, challenging a slew of online retailers dominated mainly by Naspers' (NPNJn.J) Takealot.com. "The launch of Amazon.co.za in 2024 will provide independent sellers throughout the country an opportunity to rapidly launch, grow, and scale their businesses," Amazon said in a statement. The launch of its service comes at a time when South Africa has seen a sharp rise in online shopping after the pandemic created an opportunity for e-commerce to finally take hold, with retailers doubling down on investments in response. "I don't think their takeover of South Africa retail is a slam dunk," said Sasfin Wealth senior equity analyst Alec Abraham. While Amazon is expected to intensify competition with local online and traditional retailers, "the reality is that the consumer pie in South Africa is not growing," he said.

Persons: Naspers, Pascal, Alec Abraham, Mamongae Mahlare, Nqobile, Promit Mukherjee, Mark Potter Organizations: REUTERS, Sasfin Wealth, Amazon, Takealot, Reuters, Thomson Locations: Africa, JOHANNESBURG, South Africa, Egypt

☆ CEO of Naspers and Prosus Steps Down
▼ + stars: | 2023-09-18 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/ceo-of-naspers-and-prosus-steps-down-4b16b424

Persons: Dow Jones

☆ Naspers/Prosus CEO steps down, M&A chief Tu takes the helm
▼ + stars: | 2023-09-18 | by ( Tosterling Tannur Anders | Tannur Anders | ) www.reuters.com time to read: +3 min

But it coincides with a restructuring in Naspers/Prosus relations, with Prosus no longer holding shares in Naspers. Analysts said he was the most likely candidate to succeed Van Dijk permanently. At 0910 GMT, Prosus shares were trading down 0.9% in Amsterdam, while Naspers' shares were 1.5% lower in Johannesburg. Tencent shares closed down 1.6% in China. Van Dijk oversaw Prosus's 2019 IPO and the company's stock boomed during the COVID-19 pandemic.

Persons: Bob van Dijk, Siphiwe, Ervin Tu, Naspers, Prosus, Van Dijk's, Van Dijk, Koos Bekker, Tannur Anders, Promit Mukherjee, Toby Sterling, Radhika Anilkumar, Louise Heavens, Mark Potter Organizations: REUTERS, HK, Vision, Reuters, Thomson Locations: Johannesburg, South Africa, Tencent, JOHANNESBURG, AMSTERDAM, Naspers, Naspers ., Amsterdam, China, Prosus, Bengaluru

☆ Tencent investors Naspers and Prosus announce abrupt departure of CEO Bob van Dijk
▼ + stars: | 2023-09-18 | by ( Arabile Gumede | ) www.cnbc.com time to read: +2 min

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

☆ Naspers & Prosus CEO steps down, M&A chief Ervin Tu is successor
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Bob van Dijk, CEO of e-commerce group Naspers, poses for a photograph in front of the company logo after holding a media briefing in Johannesburg, South Africa, October 9, 2019. The companies named investment chief Ervin Tu, a previous VisionBank manager and Goldman Sachs technology banker, as interim CEO. However it coincides with the unwinding Monday of a cross-structure between Prosus and Naspers. Van Dijk oversaw Prosus's 2019 IPO and the company's stock boomed during the COVID-19 pandemic. However he struggled to close a valuation gap between Prosus, Naspers and the value of their biggest asset: Chinese software giant Tencent(0700.HK) .

Persons: Bob van Dijk, Siphiwe, Ervin Tu, Goldman Sachs, Naspers, Van Dijk's, van Dijk, Van Dijk, Prosus, Tannur Anders, Toby Sterling, Radhika Anilkumar, Sherry Jacob, Phillips, Stephen Coates, Michael Perry, Louise Heavens Organizations: REUTERS, Rights, Prosus NV, Johannesburg Stock Exchange, HK, Thomson Locations: Johannesburg, South Africa, Rights JOHANNESBURG, Prosus, Tencent, Russia, Ukraine, Amsterdam, Bengaluru

☆ Naspers, Prosus CEO Bob van Dijk steps down
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Dutch-listed technology investor Prosus NV and its South African parent Naspers said on Monday Bob van Dijk has stepped down as chief executive officer from both companies. Van Dijk, who has led Naspers since 2014 and Prosus since 2019, has agreed to remain as a consultant until Sept. 30, 2024, the companies said in a statement. Ervin Tu will assume the role of interim chief executive of both companies. "The group's strategic goals remain unchanged and it is on target to deliver on its commitments," the global consumer internet companies said in a statement.

Persons: Naspers, Bob van Dijk, Van Dijk, Ervin Tu Organizations: Prosus NV Locations: Prosus

☆ Prosus CEO exit leaves Tencent elephant in room
▼ + stars: | 2023-09-18 | by ( Karen Kwok | ) www.reuters.com time to read: +3 min

REUTERS/Siphiwe Sibeko Acquire Licensing RightsLONDON, Sept 18 (Reuters Breakingviews) - Bob van Dijk is passing an unsolved problem to his successor. The Tencent stake that it owns made up about 75% of the group’s $130 billion portfolio value as of Sept. 15. His workaround was to instead sell little chunks of Tencent shares, and use the proceeds to buy back Prosus stock. Still, the gap reflects shareholders’ ongoing struggles to value Prosus. Neither Prosus nor the 50-year-old van Dijk gave a reason for his exit, but the persistence of the discount won’t have helped.

Persons: Bob van Dijk, Siphiwe, Ervin Tu, Africa’s, Van, van Dijk, It’s, Goldman Sachs, Prosus, Naspers, van Dijk’s, George Hay, Streisand Neto, Oliver Taslic Organizations: REUTERS, Reuters, Prosus, HK, Interim, Vision, Thomson Locations: Johannesburg, South Africa, Amsterdam, India, Brazil, Tencent

☆ Dutch online marketplace OLX contributing to EU antitrust probe into Meta
▼ + stars: | 2023-07-21 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, July 21 (Reuters) - Dutch online marketplace OLX is helping EU antitrust enforcers in their investigation into Facebook owner Meta Platforms (META.O), the Naspers unit said on Friday. Meta, which contested the charges at a closed hearing held by the EU competition enforcer last week, has said the EU's case is without foundation. OLX said it took part in the hearing "to contribute to their (EU) investigation about Meta antitrust practices". OLX is owned by Dutch technology investor Prosus NV (PRX.AS), a subsidiary of South African technology investor Naspers (NPNJn.J). Norwegian media group Schibsted (SCHA.OL) also participated in the EU hearing.

Persons: OLX, Naspers, Foo Yun Chee, Louise Heavens Organizations: Facebook, Meta, European, Prosus NV, Thomson Locations: BRUSSELS, EU, Dutch, African, Norwegian

☆ Goldman picks a raft of discounted global stocks — and gives two more than 100% upside
▼ + stars: | 2023-07-12 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Analysts at Goldman Sachs have picked a number of global stocks it says are trading at a discount — and said two of its picks could rise more than 100% over the next 12 months. The analysts picked telecommunications company BT Group , giving it an estimated 130% potential upside in the next year. Goldman also gave Lloyds Bank potential upside of 78%, and said South African technology group Naspers could rise by 71% over 12 months. 'Upside risks' The stocks all appear on Goldman's list called "value buys with earnings upside potential." The bank gave Intesta Sanpaolo a 58% potential upside to its 12-month price target.

Persons: Goldman Sachs, John Sawtell, Goldman, Andrew Lee, Sanpaolo, Chris Hallam, — CNBC's Michael Bloom Organizations: Goldman, BT Group, BT, Natwest, Deutsche Bank, Lloyds Bank, Porsche Locations: African

☆ S.Africa tech investor Naspers' profit slumps on lower Tencent contribution
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, June 27 (Reuters) - Technology investor Naspers (NPNJn.J) on Tuesday reported a 78% slump in annual profit, led by a drop in the contribution from China's Tencent (0700.HK) which accounts for the bulk of earnings and revenue for the South African investor. Its headline earnings per share, a profit measure, from continuing operations dropped to 119 U.S. cents for the year ended March 31, from 547 cents posted a year ago. Naspers, which has its global investments housed in Amsterdam-listed Prosus (PRX.AS), , draws over two-thirds of its revenue from Tencent. It posted revenue of $6.8 billion and its losses from ecommerce businesses including classifieds, fintech and food delivery came to $639 million. Reporting by Promit Mukherjee; editing by Edmund Klamann and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Naspers, China's Tencent, Promit Mukherjee, Edmund Klamann, Jason Neely Organizations: Technology, HK, South, Thomson Locations: JOHANNESBURG, Amsterdam, Tencent

☆ Prosus posts $617 mln e-commerce trading loss, H2 sees improvement
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

Net profit fell to $10 billion from $18.6 billion, mostly due to a worse performance by Chinese software giant Tencent (0700.HK), in which Prosus owns a 26% stake. Among e-commerce companies Prosus considers part of its core operations, revenue grew by 10% to $5.8 billion, the company said. Its trading loss in the second half of the year came to $252 million, an improvement from a loss of $365 million in the first half, Prosus said. Separately, Prosus announced it is ending a cross-share-holding arrangement with its parent company Naspers (NPNJn.J) of South Africa. Naspers on Tuesday reported a 78% slump in annual profit, also mainly due to a weaker contribution from China's Tencent.

Persons: Prosus, Naspers, Toby Sterling, Jason Neely Organizations: HK, Prosus, Thomson Locations: AMSTERDAM, South Africa, Prosus

☆ SoftBank-Alibaba sale looks awkward for Prosus
▼ + stars: | 2023-04-13 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, April 13 (Reuters Breakingviews) - SoftBank Group (9984.T) and Prosus (PRX.AS) are two very different beasts. Prosus owned about 27% of the internet titan on Wednesday, based on Refinitiv data and the company’s portfolio tracker. Prosus and van Dijk, however, have a rock-solid balance sheet with more cash than debt, and no particular need to exit Tencent in a hurry. That’s down from its peak last year, when the share price was considerably less than half the company’s net asset value per share. Prosus, the Amsterdam-listed technology investor, on April 11 said it would deposit 96 million Tencent shares into the Hong Kong Central Clearing and Settlement System, a precursor to selling them.

☆ Prosus, Naspers cutting 30% of jobs at corporate offices
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationAMSTERDAM, Jan 25 (Reuters) - Prosus NV (PRX.AS) and its South African parent Naspers (NPNJn.J) are cutting up to 30% of jobs at their corporate offices, the Dutch technology investor said. "We are adapting to a changing macro environment and have been working for some time to strengthen our cost structures," a Prosus spokesperson said in a statement on Wednesday. Prosus and Naspers have around 15 corporate offices around the world, with the largest ones in Johannesburg and Amsterdam. There is no figure available for the number employed at corporate offices located around the globe, a spokesperson said. There was no schedule for the cuts to the corporate offices.

HONG KONG, Nov 17 (Reuters Breakingviews) - Naspers (NPNJn.J) has a new Tencent (0700.HK) quandary. In June, they launched an open-ended plan to gradually sell Tencent shares and use the proceeds to repurchase stock in both companies. The problem, however, is that Tencent stock has underperformed that of Naspers and Prosus. Over the same period Naspers shares rose 6% while those of its Dutch subsidiary are down 19%. “The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders," they said in a statement.

☆ CNBC Stock World Cup: Visa vs Microsoft and Naspers vs Softbank — who wins?
▼ + stars: | 2022-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Stock World Cup: Visa vs Microsoft and Naspers vs Softbank — who wins? Heading into the World Cup season, CNBC spoke to Josh Brown of Ritholtz Wealth Management on whether Visa or Microsoft will give investors a greater total return over the next 12 months. And James Demmert from Main Street Research gives his take on who's going to be the winner between Naspers and SoftBank. 01:20 2 hours ago

☆ This biotech stock soared 20% last week — and analysts are giving it another 36% upside
▼ + stars: | 2022-11-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. biotech firm Horizon Therapeutics was among the top global performers last week, with its stock soaring nearly 21% for the week. It raised its full-year 2022 net sales guidance to a range of between $3.59 billion and $3.61 billion. Analysts covering the stock are positive on its future performance, with nearly 87% giving it a "buy" rating and price target upside of 36%, according to FactSet. The stock bucked the trend of a decline in global stocks last week, with the MSCI World Index dipping around 2% for the week. Still, seven global stocks, including Horizon, soared more than 20%.

☆ How the CNBC Stock World Cup 2022 works
▼ + stars: | 2022-11-03 | by ( Will Koulouris | ) www.cnbc.com time to read: 1 min

From Apple to Tencent , LVMH to BHP , Naspers to Netflix . As we head into the World Cup season, CNBC will be taking a look at some of the world's biggest companies and pitting them against each other for the inaugural CNBC Stock World Cup 2022. Starting with the initial stages on Nov. 7, we'll ask experts from across the globe to rate each match-up based on one key question: If you invest today, which of the two companies going head-to-head will give you a greater total return over the next 12 months? Thirty-two companies. One final champion.

☆ South Africa's Takealot to extend reach in towns and townships
▼ + stars: | 2022-11-03 | by ( Nqobile Dludla | ) www.reuters.com time to read: +2 min

JOHANNESBURG, Nov 3 (Reuters) - Takealot group, which includes South Africa's biggest e-commerce retailer Takealot.com, is pushing further into townships and growing its new grocery partnership to defend its market share. Competition is expected to intensify following a report U.S. e-commerce giant Amazon (AMZN.O) will launch locally in the coming year. Mamongae Mahlare, the chief executive officer of Takealot, said the group's delivery network and local appeal would ensure it competed. "Our confidence lies in South Africans, lies in us as a home-grown South African business," she said in an interview with Reuters. Without giving any investment figures, Mahlare said Takealot was investing to increase the penetration and take-up of its businesses, including on-demand food delivery Mr D Food and fashion online retailer Superbalist.

☆ Prosus and Naspers deny report they are in talks to sell Tencent stake
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Prosus holds a 28% stake in Tencent worth $70 billion at current prices. It has said it intends to sell the stake down gradually to fund a share repurchase program. "The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders," they said in a statement. Tencent shares rose sharply on Friday, gaining 10% to $226.2 HKD. Naspers shares, which usually follow movements in Tencent, rose 8.7% in Johannesburg.

☆ Prosus & Naspers deny report they are in talks to sell Tencent stake
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Aly SongAMSTERDAM, Nov 1 (Reuters) - Technology investment firm Prosus NV (PRX.AS) and its South African parent Naspers (NPNJn.J) on Tuesday rejected as "untrue" a report that they are in talks to sell their large stake in Chinese software and gaming giant Tencent (0700.HK). In a pre-market statement, Amsterdam-based Prosus said an article in Asian Tech Press citing unnamed sources saying that Naspers was in talks with a group of investors led by CITIC of China to sell its entire Tencent stake was "speculative and untrue". Prosus holds a 28% stake in Tencent worth $70 billion at current prices. It has said it intends to sell the stake down gradually to fund a share repurchase program. "The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders," they said in a statement.

☆ Prosus to sell Russian classifieds business Avito to Kismet for $2.4B
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 14 (Reuters) - Prosus (PRX.AS), the Dutch-based technology investor, said on Friday it has agreed to sell its Russian online marketplace Avito for 151 billion roubles ($2.46 billion), to Kismet Capital Group. The buyer, Russian investment firm Kismet, was founded by Ivan Tavrin, former CEO of telecoms company MegaFon. Several Western companies opting to exit the Russian market have taken significant financial losses in doing so. "Our goal has been to manage the sale of the business in a responsible and structured way," Naspers said in a statement. "We believe that this is best achieved through this deal.”Avito, Russia's largest online marketplace, has around 5,000 employees and 90 million users.

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