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Naspers Recent Events

by Alan Daniel

Naspers is an intriguing firm that has seen significant evolution over time. Transformed from a newspaper media company, Naspers is now a technology-focused investing firm and there are some recent events which are garnering some attention.

Naspers has come a long way from where it was in the past and has made significant bets that have paid off handsomely. Investments range from the Craigslist that the rest of the world uses (OLX) to rapidly growing tech firms like Tencent.

The South African has done a series of notable moves quite recently, we will cover a few of these today.

Naspers Recent Events

Prosus Listing
First, it spun out Prosus, listing it in Amsterdam. Prosus is one company that will be the key holder of a substantial portion of Naspers’ international internet assets. Many might not know that Prosus is the giant in the European technology industry.

Prosus and Just Eat
Further, the firm has made no reservations in attempts to hold several food delivery companies across the world. Prosus aims to buy Just Eat for more than $6.0 billion. It is essential to note that Just Eat is already a public company and is present in more than 12 countries across several continents. Just Eat is a strategic startup in the food delivery industry with its strategic reach in key market regions. It is no wonder that Prosus wants to have Just Eat as a part of its asset portfolio; it would serve as a strategic acquisition.

There’s only one problem; Just Eat is engaged in a buyout deal by Takeaway.com.

Prosus aims to compensate by valuing the company a bit more highly than Takeaway.com.

But the Just Eat deal might not go through due to tentative agreement with the other bidder.

Naspers and Libra
The South African tech giant has reiterated its support for Facebook and the contentious and controversial Libra Association. While early backers such as Paypal, Mastercard, and Visa have promptly left the association, dealing a significant blow, Naspers is still present.

It seems as if the tech giant, via its portfolio asset PayU, will not back down from the challenges presented by regulators.

PayU, a payment division of Naspers, will continue to move forward with the Libra Association.

PayU deciding to stick with the Libra Association is a big deal. The fintech firm was present in the fintech landscape since 2002 and has partnerships with firms in continents ranging from Africa to the Middle East.

These moves are indicative of Naspers and its commitment to long-term investing in many of its ventures. A strategy that provided substantial returns.

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