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Naspers Stock Rises on White House Assurances That Proposed WeChat Ban Won’t be as Broad as Previously Feared

Investors in Africa’s most valuable public company, Naspers, breathed a sigh of relief on Monday after hearing that any White House measures against WeChat and its parent company Tencent won’t be as broad as initially feared.

A Naspers subsidiary is Tencent’s largest shareholder, owning 31% of the company, so any U.S. sanctions against Tencent would likely impact the African media giant as well. (BLOOMBERG)

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