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Naspers slides after Tencent tumbles

Nov 15 2012 19:38 Reuters

Company Data

NASPERS LIMITED [JSE:NPN]

Last traded 1360.03
Change -3.64
% Change 0.00
Cumulative volume 160589
Market cap 566.88bn

Last Updated: 02/09/2014 at 10:44. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Shares of Naspers [JSE:NPN] dropped 3.4% to R535.50, tracking a 7% tumble in China's Tencent Holdings, which is 34% owned by Naspers.

Tencent, China's biggest online gaming and social networking company, surprised the market with a rare earnings miss after the close of trade on Wednesday, as efforts to expand into new businesses hit margins and the number of its fee-paying Internet users fell.

Naspers' Asia business, which includes Tencent, currently makes up about 22% of its revenue, according to Thomson Reuters data.

* Fin24 is a Naspers publication.
naspers  |  tencent
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