Market Is Ignoring Naspers' Investment Track Record. Discount to Underlying Value Is Unjustified

Naspers Continues to Execute Well on Its Non-Tencent Investments.

Be Careful What You Wish For - Naspers To Sell up to US$10bn in Tencent

Naspers 1H17 Result Shows Encouraging Underlying Trends

Naspers: Creating Value in Online Travel in India with MakeMyTrip Deal.

Naspers Sale of the Allegro ECommerce Business Crystallizes Value.

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Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

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Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/21085" target="_blank" data-smartkarma-citation="entities:21085:1">Naspers' (NPN SJ)</a> full year results were recently released, but had been largely pre-announced. We view them positively given the challenges it has been facing in a number of markets, especially across Sub-Saharan Africa. Naspers has a strong management team that operates in difficult markets and has a strong track record of monetizing key businesses. However,  investors remain concerned about the use of cash generated from recent transactions and the subsequent delay in realizing value of the…</p>

Naspers' (NPN SJ) full year results were recently released, but had been largely pre-announced. We view them positively given the challenges it has been facing in a number of markets, especially across Sub-Saharan Africa. Naspers has a strong management team that operates in difficult markets and has a strong track record of monetizing key businesses. However,  investors remain concerned about the use of cash generated from recent transactions and the subsequent delay in realizing value of the…

Naspers' Operational Improvements Continue