Naspers denies it is in talks to sell Tencent stake

Naspers and Prosus said an article which claims it is in talks with a CITIC-led group to sell its stake in Tencent is speculative and untrue.

On Monday, Asian Tech Press reported that Naspers was in discussions with a CITIC-led consortium to sell all its Tencent shares.

CITIC, formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People’s Republic of China.

It is China’s biggest state-run conglomerate with one of the world’s largest pools of foreign assets, including businesses in financial services and manufacturing.

According to Asian Tech Press, CITIC is looking to take a controlling stake in Tencent, which is seen as a strategic asset.

Prosus released a press statement today, saying the article by Asian Tech Press is speculative and untrue.

“The group continues with its open-ended share repurchase programme announced in June this year which is funded by the sale of small numbers of ordinary shares in Tencent,” it added.

“The Naspers Board and Prosus Board reiterate their continued confidence in Tencent’s long-term prospects.”

“We continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders.”