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Prosus, Subsidiary of Naspers, Cuts Stake in MEITUAN-W by 39M+ Shrs within 5 Mths
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The latest information disclosed by Prosus, a subsidiary of Naspers, a South African media group and major shareholder of TENCENT (00700.HK), was released. As of the end of November, Prosus held 218.4 million shares of MEITUAN-W (03690.HK), down 39.1 million shares since early July. Prosus CEO Fabricio Bloisi stated that the funding for the unlimited buyback plan comes not only from reducing its stake in TENCENT but also from selling investments lacking potential. According to Prosus' interim report, the company reduced its stake in MEITUAN-W by US$249 million during the period from July to September and further sold US$300 million worth of MEITUAN-W shares in October, cashing in approximately US$549 million in combined. The company has not disclosed the number of shares involved in the reduction. AASTOCKS Financial News Website: www.aastocks.com |
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