Naspers shares continue to slide

File: The Naspers logo. Wikimedia Commons

JOHANNESBURG - Naspers shares continue to slide as Chinese authorities tighten their regulatory grip on technology companies.

It fell a further 6 percent on Tuesday after Tencent, in which it owns nearly 30 percent, was subjected to regulatory scrutiny in China.

READ: Naspers revenues, trading profit at record levels

Last week, Chinese competition authorities ordered Tencent to stop exclusive music licensing deals and levied a small fine after taking similar action against other technology firms.

Naspers now accounts for about 15 percent of the Johannesburg Stock Exchange.

Source
eNCA

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