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Prosus and Naspers deny report they are in talks to sell Tencent stake

Prosus and Naspers deny report they are in talks to sell Tencent stake

TECHNOLOGY investment firm Prosus NV and its South African parent Naspers rejected as "untrue" a report that they are in talks to sell their large stake in Chinese software and gaming giant Tencent. 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 state-backed 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…
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China’s tech crackdown – for consumers’ good or greater control?

China’s tech crackdown – for consumers’ good or greater control?

RINA CHANDRAN  CHINA has tightened its grip over a wide range of industries including technology firms, as authorities introduce sweeping reforms to activities they consider harmful to young people, from celebrity fan culture to private tutoring. The crackdown on some of China's biggest tech companies including Alibaba, Didi and Tencent comprise measures ranging from limiting the amount of time spent on online games, to ordering food delivery companies to better protect workers. By imposing these rules, the Chinese government has said it is hoping to create "positive energy" among young people, and educate them on what Beijing considers as "correct…
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