Tencent: Naspers is bringing its $134 billion stake to Europe
5 years, 9 months ago

Tencent: Naspers is bringing its $134 billion stake to Europe

CNN  

London CNN Business — Tencent’s largest investor is listing its $134 billion stake in the Chinese internet giant in Europe. South African media group Naspers unveiled plans Monday to bundle its stakes in tech businesses including Tencent into a new company that will be listed in Amsterdam. Naspers would float 25% of the shares in the new business, which it said would become “Europe’s largest listed consumer internet company.” In addition to Tencent, the new company will include Naspers’ stakes in Indian e-commerce startup Swiggy, Russian internet business Mail.ru and German food delivery company Delivery Hero. “The listing will present an appealing new opportunity for international tech investors to have access to our unique portfolio of international internet assets,” Naspers CEO Bob van Dijk said in a statement.

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History of this topic

Tencent just got a bit of good news from Chinese regulators on its Sogou deal
3 years, 6 months ago

Tencent just got a bit of good news from Chinese regulators on its Sogou deal

CNN  

Hong Kong CNN Business — Chinese regulators have cleared the way for Tencent to take complete control of Sogou, a major search engine that could help the tech firm take on market leader Baidu. China’s State Administration for Market Regulation said Tuesday that it had “unconditionally approved” the buyout, which will take New York-listed Sogou private. “This merger is powerful,” …

Tencent stock: Naspers’ spin-off Prosus sells stake worth $15 billion
3 years, 9 months ago

Tencent stock: Naspers’ spin-off Prosus sells stake worth $15 billion

CNN  

Hong Kong CNN Business — Tencent’s biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, and will use the money to invest in other growth ventures. Prosus, a spin-offby South African media and internet investment firm Naspers, sold a 2% stake in Tencent for 114.2 billion Hong Kong dollars, the Chinesetech giant …

Tencent boss meets China antitrust officials as scrutiny widens
3 years, 9 months ago

Tencent boss meets China antitrust officials as scrutiny widens

The Hindu  

Pony Ma, the low-profile founder of Tencent Holdings, China's biggest social media and video games company, met with antitrust watchdog officials this month to discuss compliance at his group, three people with direct knowledge of the matter told Reuters. Wu Zhenguo, the head of SAMR's anti-monopoly bureau, who was also at the meeting, expressed concern about some of Tencent's business …

Prosus: Naspers lists its giant Tencent stake in Amsterdam
5 years, 4 months ago

Prosus: Naspers lists its giant Tencent stake in Amsterdam

CNN  

London CNN Business — Europe has a new tech giant. Naspers, the South African media company that hit the jackpot with an early investment in Tencent, on Wednesday spun out its 31% stake in the Chinese internet group by listing a new company on Amsterdam’s stock exchange. Called Prosus, the company was worth €95 billion at listing, making it the …

Naspers in talks to buy stake in Dream11 worth $100 million
5 years, 5 months ago

Naspers in talks to buy stake in Dream11 worth $100 million

Live Mint  

South Africa’s Naspers Ltd is in talks to buy a stake worth about $100 million in online fantasy gaming startup Dream11 from Kalaari Capital, Think Investments and Multiples Alternate Asset Management, said two people aware of the matter. Following bumper earnings from the Cricket World Cup and Indian Premier League, Dream11 is now seeking a valuation of $2.5 billion, more …

Tencent Holdings posts 35% rise in net profit thanks to growth in gaming business
5 years, 5 months ago

Tencent Holdings posts 35% rise in net profit thanks to growth in gaming business

Firstpost  

In 2018, Tencent turned in its slowest annual profit growth in 13 years due to a suspension in approvals for new games. Tencent Holdings posted a better-than-expected 35 percent rise in quarterly net profit on Wednesday as growth in its gaming business resumed after a long regulatory freeze in China and its fintech operations saw revenues rise sharply. However, the …

Tencent profit plunges 32% but its gaming business is recovering
5 years, 9 months ago

Tencent profit plunges 32% but its gaming business is recovering

CNN  

Hong Kong CNN Business — Tencent’s troubles aren’t over yet. Brokerage firm Daiwa said Tencent’s solid gaming business will continue to pull in money, users and overseas players. “We believe the company’s ability to procure quality gaming content in adverse market conditions will drive a recovery in sentiment,” Daiwa analysts wrote in a report published Wednesday. Tencent is still waiting …

Tencent music arm debuts on NYSE
6 years, 1 month ago

Tencent music arm debuts on NYSE

China Daily  

Visitors check out Tencent Music Entertainment products at the company's booth during a music show in Beijing. Tencent Holdings Ltd's music arm finally pressed the play button, debuting on the New York Stock Exchange on Wednesday, as part of the tech giant's efforts to diversify its business and seek new growth drivers. Tencent Music Entertainment Group priced its initial public …

Tencent aims to hit the right note with IPO
6 years, 1 month ago

Tencent aims to hit the right note with IPO

China Daily  

The stand of Tencent Holdings Ltd's music arm at an industry expo in Beijing. With a combined 800 million monthly active users, Tencent's music subsidiary runs four leading mobile music apps in China, namely QQ Music, Kugou Music, Kuwo Music and mobile karaoke app WeSing. Tencent has a 58 percent stake in TME, while Swedish music streaming peer Spotify Technology …

Tencent in talks to join group bidding for Amer Sports
6 years, 2 months ago

Tencent in talks to join group bidding for Amer Sports

Live Mint  

Hong Kong/London: Internet giant Tencent Holdings Ltd is in talks to join a Chinese investor group pursuing a takeover of Finland’s Amer Sports Oyj, people familiar with the matter said. Tencent, China’s largest social-media company, is considering joining the consortium led by Anta Sports Products Ltd as a minority investor, according to the people mentioned above. Online shopping Roping in …

Naspers plans further investment in $2 billion Swiggy
6 years, 2 months ago

Naspers plans further investment in $2 billion Swiggy

Live Mint  

Johannesburg/Bengaluru: Naspers Ltd is planning to increase its stake in Indian online food delivery business Swiggy as the startup plots its third funding round of the year, according to people familiar with the matter. Swiggy’s valuation has risen to more than $2 billion after Cape Town-based Naspers led two previous funding rounds to become the firm’s biggest shareholder, according to …

Tencent announces restructuring amidst introduction of tougher govt regulation
6 years, 3 months ago

Tencent announces restructuring amidst introduction of tougher govt regulation

Firstpost  

The reshuffle is followed by a hefty fall in market value for Tencent Holdings this year. Chinese internet giant Tencent Holdings announced on Sunday its first restructuring in six years, done at a time it faces increased challenges from tighter government regulations. The reshuffle comes as Tencent Holdings, which has seen a hefty fall in market value this year, is …

Tencent market value slumps by $20 billion after Chinese crackdown on gaming
6 years, 4 months ago

Tencent market value slumps by $20 billion after Chinese crackdown on gaming

Firstpost  

Chinese Ministry called on parents to limit the time their children spend using mobile phones. Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. Tencent has lost more than $160 billion in market value …

Tencent stuns with first profit drop in a decade
6 years, 5 months ago

Tencent stuns with first profit drop in a decade

Live Mint  

Hong Kong: Tencent Holdings Ltd. joined the ranks of Facebook Inc. by reporting shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain. Tencent surprised investors with its first profit drop in at least a decade—a consequence of a freeze on game approvals in China that smothered its pipeline. A …

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