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Naspers/Prosus share swap approved - anything but plain sailing
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Naspers/Prosus share swap is in the best interests of shareholders - Jean-Pierre Verster
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Cloudebate™
Wednesday, 12 May 2021
Is it a get-rich-quick scheme or genuine alternative to traditional money?
Most of us have heard about it, but not many of us really understand cryptocurrency. Generally referred to as the original cryptocurrency, Bitcoin is a unique and non-governmentally issued digital money that has become more mainstream in recent years as its usefulness and reach have increased. Bitcoin specifically is widely known for the astronomic rises in its market trading value, as well as its spectacular losses in worth.
All this speculation in cryptocurrency does not relate to any inherent economic value creation, hence critics of Bitcoin, including value investor Warren Buffet, do not believe buying and selling Bitcoin to be a truly value-generative activity.
MONEYWEB
app instead?
After Tencent windfall. 16:26
Image: Shutterstock
Investors in Naspers Ltd – Africa’s biggest company – said on Thursday they want proceeds from a $14.7 billion stake sale in its Tencent Holdings investment to go towards blockbuster acquisitions or a share buyback.
Naspers’ Dutch-listed subsidiary Prosus NV sold a 2% stake in the Chinese gaming and social media giant on Thursday in the world’s largest-ever block trade, reducing its stake to 28.9%.
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Naspers investors seek big deals, share buyback after Tencent windfall
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