Tencent Holdings largest shareholder scrapped a promise not to sell more stock in the Chinese internet giant until 2024, saying it would pare its stake to fund a share-buyback program.

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


Tencent Shares on the Block as Prosus Looks to Fund Buyback

Tencent Holdings largest shareholder scrapped a promise not to sell more stock in the Chinese internet giant until 2024, saying it would pare its stake to fund a share-buyback program.

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

Source link

Leave a Reply