Naspers, the largest shareholder in Chinese technology company Tencent, says it has built businesses that can withstand tensions between the US and China.
“If you look at the businesses we are invested in, I don’t think there’s going to be a lot of direct impact on the businesses. We almost exclusively operate with local entrepreneurs in each market.” In May, Google became the first major US technology company to suspend business with equipment manufacturer Huawei after its blacklisting by authorities, effectively halting updates and support services for its Android operating system), except those covered by open-source licences. Huawei generates about 48% of revenue from its consumer device segment, which will likely be the most affected by the ban. The segment is its biggest revenue contributor.
Source: News Formal (newsformal.com)
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