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Tencent Shares on the Block as Prosus Looks to Fund Buyback

Tencent Holdings largest shareholder scrapped a promise not to promote extra inventory in the Chinese web large till 2024, saying it will pare its stake to fund a share-buyback program.

The transfer by web conglomerate Prosus NV and its mum or dad firm, Naspers represents a renewed effort to slender the hole between how the two funding firms are valued by the market and the worth of their holdings in Tencent and different property.

Related Topics:0700.HK acquisitions Acquisitions/Mergers/Shareholdings Block Buyback C&E Exclusion Filter C&E Industry News Filter Content Types corporate Corporate Actions Corporate Funding Corporate/Industrial News disruptions Divestments E-commerce Etailing Factiva Filters Financial Performance fund HK:700 industrial news JD JD.com mergers Naspers Naspers Ltd. N NL:PRX NPN.JO Online Service Providers Ownership Changes Prosus PRX.AE redemptions retail Retail/Wholesale share buybacks Share Buybacks/Redemptions Share Capital share price movement Share Price Movement/Disruptions shareholdings Shares SYND Tech Technology Tencent Tencent Holdings wholesale WSJ-PRO-WSJ.com ZA:NPN

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