Takealot has extended its losses in South Africa - but the whole Naspers group is struggling.
Naspers has warned shareholders to expect a massive drop in earnings when it reports its interim results this week.
Tencent Holdings shares worth $7.6 billion appearing in Hong Kong’s clearing and settlement system has fueled speculation that a large stakeholder may be selling its holdings.
Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback program, reversing a pledge to hold onto the full shareholding.
Media and internet firm Naspers on Monday (27 June), reported strong revenue growth with profitability in core operations for the year ending March 2022, led by the group’s e-commerce portfolio which delivered revenue growth of 49% to $10.7 billion.
Global internet group Naspers said it delivered a strong financial performance for the six months ending September 2021, growing ecommerce revenues by 52%, while continuing to make investments to further accelerate growth across its portfolio.