🔒 WEBINAR: Global portfolio ‘double whammy’ – tech stocks soar, Rand weakens
October, as the farmers call it, was a bumper crop for the Biznews Global portfolio, which saw the annualised return hit 39%.
October, as the farmers call it, was a bumper crop for the Biznews Global portfolio, which saw the annualised return hit 39%.
Valued at $2.4 billion in the Naspers deal, Avito would be Russia’s third-largest Internet company by capitalization if it were listed after Mail.ru Group Ltd. and Yandex NV.
One of China’s largest internet companies is intensifying its efforts to crack the African market with a bid to disrupt Facebook’s WhatsApp with a rival messaging service.
Naspers is considering raising $2.5 billion to fund acquisitions as it looks to continue its expansion in fast-growing online markets in developing countries.
Naspers, Africa’s biggest company by market value and owner of the continent’s largest pay-TV service, predicts interim profits will surge by up to 42%.
Since the 2008 global financial crisis, South African media group Naspers has been the best performing stock in the whole world, edging its 34% Chinese associate TenCent and the world’s most valuable business, Apple Inc.
Kik Interactive Inc., a messaging application that explored options earlier this year including a sale, received $50 million in funding from Tencent Holdings Ltd.
Alec Hogg shares his thoughts on the collapse in Chinese stocks and says if it weren’t a conflict of interest for journalists to trade, he’d be going short on Naspers right now.
What Tencent will be getting in $HK750m buyout is hard to figure. Mascotte these days mainly makes camera cases – its hard assets are worth just HK$28m.
Tencent Holdings Ltd. surged in Hong Kong after Asia’s second-largest Internet company posted record profit on demand for smartphone games.