Naspers: no faith in Facebook

[rpm]

Naspers: no faith in Facebook

Naspers booked a 'fat' profit from the sale of two-thirds of its stake in Facebook, and has indicated that it will sell off the remaining shares as soon as it can.

 

[Shake&Bake]

Can't blame them - like shooting fish in a barrel.

 

[AndreasMeyer]

How did they have shares in facebook? Certainly not directly.

 

[bwana]

How did they have shares in facebook? Certainly not directly.

Did you read the article?

Naspers says it does not own a direct stake in Facebook, but rather has in indirect investment through Russian Internet company, Mail.Ru, which owns the shares.

 

[DJ...]

How did they have shares in facebook? Certainly not directly.

Digital Sky Technologies bought Facebook shares from Facebook employees in 2009/2010. Naspers traded their shares in mail.ru (and cash) for a 30% stake in DST, giving them an effective 3% interest in Facebook, before Facebook IPO...

 

[DJ...]

Did you read the article?

Which isn't entirely accurate. Naspers entered into a share swap agreement with DST in 2010 - http://www.naspers.com/cmsAdmin/uploads/Naspers_DST_Press_eng.pdf trading their mail.ru shares for DST shares...

 

[Haldex]

I always underestimate the might of naspers, they always surprise me.

 

[AndreasMeyer]

Did you read the article?

Just seen that there is an article. Thanks.