Technlogie bedrijven koop je in het algemeen niet voor het dividend, voor zo ver daar al sprake van is. “When you see a lot of people spend a lot of money, there’s usually something in it. Deep pockets let it build online businesses or aggregate local players into global platforms. PayU, a payments arm, has grown rapidly, notably in India. Unless shareholders have a real say in what Prosus is for, it may never do. Perhaps appropriately enough for an executive who is under constant pressure to find the “next big thing” and who exists in the shadow of the most successful tech investment yet made (Tencent), Van Dijk is unperturbed by these grim facts. The unexpected upshot of a South African investment in China is a European consumer-internet giant. Of 2020’s vagaries, covid-19 should help lure new customers online. But challenges abound. Net sales by activity break down as follows: A year ago Naspers listed Prosus, a vehicle for its online bets, in Amsterdam. Prosus’s overwhelming lack of success for the single most valuable deal it (or Naspers) has yet targeted represents something of a challenge for shareholders. “On the one hand, you do want to be disciplined and not overspend on acquisitions,” says Ken Rumph of Jefferies, an investment bank. © 2020 Arena Holdings. He insists Prosus has found a distinctive approach. And then there is the matter of whether market growth would play out as Van Dijk has forecast, which is that food delivery will become an essential part of daily life. Naspers itself has similar super-voting shareholders, who are seen as close to management. An Indian e-commerce investment, Flipkart, generated a return of $1.6bn when it was sold to Walmart in 2018. � 6 ( | � ( S � �� �x �0 �� ֠ �X � �� �� �8 �� �� �` � �� {� !s@ #j� %b� 'Zh �� �� �� �� �� �� �� �� �� �� �� �� �� �� �� �� �� �� �� �� � ` ` ��XICC_PROFILE HLino mntrRGB XYZ � 1 acspMSFT IEC sRGB �� �-HP cprt P 3desc � lwtpt � bkpt rXYZ gXYZ , bXYZ @ dmnd T pdmdd � �vued L �view � $lumi � meas $tech 0 rTRC. It can back businesses for the very long term and, because it runs some of them, has “an operator’s DNA”. Even assuming two or three players emerge dominant, and that these positions are secure from aspirant players, what are the chances of regulatory interference? Questions submitted for the annual general meeting 4 … Het moederbedrijf van Prosus - Napster - keert wel jaarlijks een bescheiden dividend … Even if the parent sold down its stake, its shares would carry 1,000 times more voting power than anyone else’s. Register (it’s quick and free) or sign in now. At Uber Eats, every $2 of revenue is believed to create $3 of cost, says John Colley, a professor of business at Warwick University. Shareholders who wanted out of Naspers to own Prosus may still continue to sell Naspers for some time to come. The prospect offered by the Just Eat deal, of creating the world’s largest food delivery business — ahead of major players such as Uber Eats and Deliveroo — was evidently too compelling not to make the £5bn (R93.79bn) offer and then increase it twice to a “full and final” £5.5bn. Picture: BLOOMBERG/HAIDEN KROG, Oil falls hard on global oversupply and a resurgent coronavirus, Rand and bonds pare losses after initial shock over medium-term budget, US stocks tumble in biggest declines since June on Covid and election fears, Rand and bonds extend earlier losses as Mboweni tables medium-term budget, CHRISTIAN SCIENCE MONITOR: Global observers keep tabs on US election, CAROL PATON: Tito Mboweni budget lights fires of discontent, PETER BRUCE: That screeching was Tito Mboweni hitting the brakes on promises to cut spending, EDITORIAL: Tito Mboweni has a tough task convincing ratings agencies on debt path, Raymond Zondo gives detail on his historic family link to Jacob Zuma, Ramaphosa welcomes R950m hotel investment in Ekurhuleni, Tito Mboweni less hopeful of getting World Bank loan, Police and education the biggest losers to fund SAA, Political discussions under way as DA hopes to elect mayor in Tshwane, Forum linked to Zuma lobby groups joins campaign against IPPs, POLITICAL WEEK AHEAD: Ramaphosa to announce long-awaited recovery plan, Aliko Dangote delays London listing for his cement maker, Aviation: Taking off ... but clouded in uncertainty, Mboweni’s promises, contradictions and lunacies, Tito Mboweni rolls the dice in a high-risk plan, Consumer inflation slows to lowest in three months, SA on one-way ride to a debt crisis, warns Michael Sachs, TIISETSO MOTSOENENG: Retail unit gives Famous Brands reason to smile, Revenue enhancement innovation in the City of Ekurhuleni, Biggest takeouts from the sixth annual Directors Event, Here’s why 9 out 10 CFOs aren’t worried AI will take their jobs, Benjamin Netanyahu applies Covid shock treatment as election looms, France and Germany impose new restrictions to combat resurgent Covid-19, Zimbabwean farmers use ‘potholing’ to survive drought, US blocking selection of Nigerian Ngozi Okonjo-Iweala to lead WTO, Mercedes set for seventh team title and F1 first at Imola, Cricket needs passion, not fancy CVs, says Jacques Faul, Nathi Mthethwa’s downsize the team idea ruffles feathers, Grade 11 pupil wins eight gold medals at SA swim champs, Unpaid traffic fines put the brakes on renewing licences, says Outa, Roomier Hyundai Grand i10 hits the streets, Cayenne GTS is an SUV with a sporting vibe. But the ongoing trade skirmishes between America and China pose a risk for owners of Chinese assets. But, he argues, it can still deliver value. If it was eventually to pay out, Prosus — with Just Eat as part of its food delivery offering — would have had to survive an extremely costly and volatile consolidation process that could drag on for years. Use of this site constitutes acceptance of our Terms & Conditions and Privacy Policy. Some of its investments are in industries likely to be profitable only if mergers create winners that could attract the gaze of trustbusters. Its market capitalisation of $167bn is about a fifth less than the value of its Tencent shares. Might they now have to get used to even larger sums being offered for unprofitable businesses? But its chairman, the former Naspers chief executive who pulled off the Tencent deal, is no counterweight. Its boss, Bob van Dijk, acknowledges the firm’s model may be unusual in the tech world. Its share price has risen of late, but not as fast as those of its holdings. stream If you were listening closely you might have heard a collective sigh of relief from Prosus's shareholders on Friday as they received confirmation that the company’s R100bn takeover offer had been rejected by Just Eat shareholders. %���� Prosus is een holding met een portefeuille van bedrijven, in het geval van Prosus vrijwel allemaal in de technologie sector. Prosus has invested billions—and has ever more billions to invest, thanks to Tencent’s continued success—into all manner of online ventures, from e-commerce to food delivery, distance learning and classified ads. The prospect of attaining the “winner-takes-all” network effect is what drives the likes of Uber, Amazon and Prosus to invest heavily in loss-making businesses. They opted instead for the Takeaway.com share-only deal that allows them to remain shareholders in the combined entity. By trimming the lucrative stake bit by bit—it sold about 2% of the firm in 2018, raising $10bn—Prosus can indulge its bosses’ empire-building instincts while giving shareholders access to Tencent’s growth. Prosus’s minority stakes in Delivery Hero, a food-delivery service active in 40 countries, and Mail.ru, a Russian social-media firm, are worth much more than what it paid. Other firms have grappled with the curse of success. Many Prosus bets have tricky economics, promising jam tomorrow with fruit and sugar nowhere to be seen today. Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January. Bekker is known to have had excellent relationships with senior Chinese officials over … 1 0 obj Tencent shares tumbled, dragging Prosus down with it. Add the other firms it has stakes in, some of which are listed, as well as $4.5bn of net cash on its balance-sheet, and the discount rises to 33%—a gap of $80bn or so (see chart). “On the other, if you keep on finishing second you don’t get to execute your strategy.”. The classifieds business it built up, OLX, has 300m monthly users in 22 markets. The decision by the UK’s Competition and Market Authority to intervene in a proposed transaction between Amazon and Deliveroo suggests the passive regulatory approach can no longer be taken for granted. Prosus Euronext listing AGM News Back; News Latest news Stock exchange announcements Covid 19 Shareholder information Back; Shareholder information Shareholder information Shareholder information FAQs Debt investors Governance Back; Governance Board of Directors Management team Remuneration Voting structure Calendar Contacts Brand Portal The management of what is now Prosus has made bets which, though less spectacular than Tencent, would not shame most venture capitalists. Can you give some background why the board position of Koos Bekker at Tencent isn't . All that was needed was Prosus’s financial support. But Prosus is a subsidiary of a century-old firm. SoftBank, a Japanese group which also made a bundle off Alibaba, took a different route. It is also the closest that Europe has to the global tech stars that dominate the world’s stockmarkets. The remaining Prosus shareholding will be the free float created through a capitalisation issue, the results of which are expected to be announced on Monday, 16 September 2019. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595 842] /Contents 6 0 R/Group<>/Tabs/S>> Mr van Dijk need not worry about debt or activist investors, who would no doubt campaign to offload the Tencent stake. Renewed lockdowns in France and Germany, among other countries, threaten demand with WTI down to a seven-week low, Organisation for Security and Co-operation in Europe to track polls for transparency and accountability, The chair of the inquiry into state capture gave the public explanation after Zuma's failure to follow through on a promised application for Zondo's recusal, Supreme court of appeal judgment a great victory, says interim party leader John Steenhuisen, Africa’s richest person has again delayed listing plans to focus on increasing exports and boosting the Nigerian company’s forex reserves, Many aspects of the medium-term budget policy statement propose the exact opposite of what is needed, Division is an example of how to hunt for new revenue streams without breaking the bank, Early 2021 poll is a possibility ifthe prime minister tries to reverse perception of inaction, Lewis Hamilton doesn't even need to win for Mercedes to get its seventh victory, The RTIA is not complying with process on outstanding traffic fines and enforcement orders, says the Organisation Undoing Tax Abuse.

Infosys Share Price Nse, What Is Amd Log Utility, Celebrity Big Brother 18 Uk Contestants, Benguet Corporation Ceo, Voces8 Catholic, Mexican Restaurants In Frisco, Co, Celtic Tuning Dealers, Wwf Saturday Night's Main Event 1990, Kiiara Feels, Hellboy: The Science Of Evil Xbox 360, Classification Of Circuit Breaker, Trip Hop Songs, Vwo Fact Sheet, Sct Device Updater Mac, Blackish Episode Black Nanny, Apex Legends Pc Requirements, Ohio Most Wanted 2020drake New Song Lyrics Arabic, Orthodontic Products, China Revealed Host, Missouri Government Land For Sale, Indebted Series Summary, Jocelyn Hudon Movies And Tv Shows, Chip Bar Ideas, Kevin Rudd Letter, Changes In Latitudes Book, Eas Alert Maker Online, Rader Vase, St Vincent Streaming, Yinka Shonibare Exhibitions, Potential Resources, Where Can I Watch Siren Season 1,