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Naspers, Bleak on MEITUAN-W Int'l Expansion, Considers Stake Cut
Recommend 18 Positive 34 Negative 16 |
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MEITUAN-W (03690.HK) has recently been rumored to plan a foray into the South American market, with Brazil as its primary target. Fabricio Bloisi, CEO of South Africa's Naspers, a shareholder of Meituan, has openly expressed skepticism about Meituan's international expansion strategy, stating a lack of confidence and not barring the odds of reducing its stake in Meituan. Naspers and its subsidiary Prosus hold a total of 258 million shares in Meituan. The company disclosed that it has not sold any shares yet, which, based on Wednesday's (2nd) closing price of HKD126, involves an amount of over HKD32 billion. Following the news of Meituan's potential entry into the South American market, the company is likely to become a competitor to Prosus's food delivery company iFood, and Prosus also holds shares in Delivery Hero, the parent company of Foodpanda. AASTOCKS Financial News Website: www.aastocks.com |
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