Naspers’s share price rocketed on the news of a share repurchase programme funded by the sale of Tencent shares, but some investors worry that it won’t deliver the promised result.
Zwelakhe Mnguni of Benguela Global Fund Managers declares both the telecommunications provider’s revenue growth and the pharmaceutical group’s J&J Covid-19 contract ‘fantastic’.
Prosus, the Naspers-controlled internet and e-commerce company, has capitalised on the digital boom to grow revenue handsomely. But profits remain elusive. This is part of the plan, says management, but analysts remain unconvinced. Prosus, the Naspers-controlled internet and e-commerce company,.