Naspers Delays Its Tencent Spin-Off: What Investors Need to Know [The Motley Fool]
NASPERS LTD S/ADR (NPSNY)
NASDAQ:AMEX Investor Relations:
naspers.com/news/publication-of-prospectus-and-expected-admission-o
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Source: The Motley Fool
Naspers Delays Its Tencent Spin-Off: What Investors Need to Know An administrative error regarding mailing labels will delay the $100 billion spin-off. I recently wrote about Naspers ( NASDAQOTH:NPSNY ) and the upcoming spin-off of its international internet assets. These assets mainly include a massive 31% stake in Chinese internet giant Tencent ( NASDAQOTH:TCEHY ) , as well as roughly 20 other smaller internet start-ups in emerging markets. Naspers first announced its intention to list the internet assets on Euronext back in March , then gave more particulars around the new company and schedule of events in late May . Those plans were recently abruptly delayed, as Naspers announced it was pushing back both its general meeting of stockholders as well as the date of the potential spin-off. The company also revealed that the new listing, formerly referred to as "NewCo," will now be called "Prosus," a Latin word that has multiple meanings but in this case translates to "forwards." Nam
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