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Prosus Launches $5 Billion Buyback in Bid to Close Tencent Value Gap -- Update
JOHANNESBURG -- Internet conglomerate Prosus NV said Friday it plans to buy back up to $5 billion of its own shares and those of its parent Naspers Ltd., after losing out on two high-profile acquisitions. It is the latest attempt to narrow a persistent gap between the company's market value and that of its stake in China's Tencent Holdings Ltd.
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