Prosus Targets $5 Billion Buyback in Plan to Cut Tencent Gap
- Dutch internet giant seeks value more than sum of parts
- Stock to be bought in Prosus and South African parent Naspers
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Prosus NV plans to buy back a combined $5 billion of shares in itself and its South African parent Naspers Ltd. in a move designed to boost shareholder value and narrow a discount between the e-commerce giant and its stake in Tencent Holdings Ltd.