Naspers's Subsidiary Prosus to Acquire US$5 Billion in Naspers and Prosus Shares

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Oct 30, 2020
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Naspers Limited (Naspers) (JSE:NPN; LSE:NPSN): the board of Prosus today announced its intention to acquire up to US$5 billion in total of Naspers and Prosus shares. This is a further step to crystalise value for shareholders. It follows earlier actions such as the unbundling of MultiChoice Group and the listing of Prosus on Euronext Amsterdam last year. The purchase of Naspers and Prosus shares also represents a meaningful investment in the group’s strong internet portfolio. It is regarded as a good use of capital, given full market valuations evident in consumer internet M&A and the group’s sizeable consolidated discount to net-asset-value (NAV).