South Africa
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Naspers to sell some Prosus shares to fund buyback

It is possible the Cape Town-based company could end up selling equity back to its own subsidiary

Naspers is moving forward with a plan to sell down part of its stake in subsidiary Prosus to fund an ongoing share repurchase programme.

Despite regulators taking their time to give final approvals on the buyback and an earnings hit for its biggest investment, Tencent, shares traded positively on Wednesday.  ..

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