Tencent investor Naspers plunges amid China’s crackdown on tech companies

The tech giant becomes the latest victim of Beijing’s antitrust blitz

2021-07-27 02:45:00 AM

Tencent investor Naspers plunges amid China’s crackdown on tech companies 🔒

The tech giant becomes the latest victim of Beijing’s antitrust blitz

Mudiwa Gavaza and Lindiwe TsoboUPDATED26 July 2021 - 21:40Naspers lost more than R70bn of its value on Monday as its biggest investment — Tencent — became the latest victim of a continued crackdown by China’s government on technology companies.By the close of trade on Monday, Naspers shares were down 7.18% at R2,748.01. This was in line with Tencent, of which Naspers holds about a third, which lost close to 8% of its value in Hong Kong...

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