Prosus hopes to close discount to NAV with $5bn share buyback

02 November 2020

Peter Takaendesa, the head of equities at Mergence Investment Managers, said the wider discounts at which Naspers (more than 50 percent) and Prosus were trading compared with the market value of their underlying investments and high valuations of assets in markets they had been looking for acquisitions made share buybacks more attractive than pursuing acquisitive growth.