Follow CGSP on Social Media

Listen to the CGSP Podcast

South Africa’s Naspers Denies Rumors It Plans to Dump Tencent Shares

by Eric Olander
South Africa-based investment company Naspers is the largest shareholder of Chinese technology behemoth Tencent. JADE GAO / AFP

South African tech investment firm Naspers denied rumors that it is in talks with the Chinese state-owned investment company CITIC to sell its $70 billion stake in the Chinese tech behemoth Tencent.

The Cape Town-based company issued a statement on Tuesday that said reports of a sale were “speculative and untrue.” Regardless, news of a possible lifted both the shares of Naspers and its subsidiary Prosus along with the entire Johannesburg Stock Exchange.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

Oppo is the Latest Chinese Phone Maker to Set Its Sights on the South African Market

C Get a daily ...

Huawei’s Former Premium Brand Phone Tries to Reboot in South Africa

Huawei’s now independent high-end smartphone brand HONOR, which was spun off in 2020 in response to crippling U.S. sanctions, is now setting its sights on the South African mobile market. The company said ...

African Consumers Still Want Huawei Smartphones Even Without Google’s Services

When Huawei was added to the U.S. entities list in August 2020 that blocked the Chinese telecom giant from using American technology on its smartphones, most notably Google’s Android operating system, 

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

Subscribe