NPSNY Stock Recent News

Technology investment firm Prosus NV and its South African parent Naspers on Tuesday rejected as "untrue" a report that they are in talks to sell their large stake in Chinese software and gaming giant Tencent.

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Berkshire has sold about $600 million of BYD stock, SoftBank is slashing its Alibaba stake by nearly 40%, and Naspers is paring its Tencent position.

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Naspers stock has been buoyed in recent weeks by the announcement of a buyback program funded by the sell-down of its Tencent stake. With Naspers also trading at a discount to its economic ownership of Prosus and the balance sheet well-capitalized, more capital allocation optionality could be on the cards.