A series of attempts by management including the creation of the separate Prosus unit listed in Amsterdam, and a pledge last June to gradually sell down the Tencent stake to fund share buybacks, have had little success in reducing the discount.
Faded Jewel
South Africa: Party may be over for Naspers investors as Tencent growth stalls
Investors for years have applied a heavy discount to the basket of assets held by South Africa’s Naspers, where a dual system of voting rights ensures insider control.
