Europe’s fortunes changed overnight in the form of a $100B consumer internet giant that listed publicly in Amsterdam.
The company is called Prosus, and it’s a spinoff of South African consumer internet conglomerate Naspers (OTCPK:NAPRF). While Prosus is not a consumer internet business itself, like Facebook and Google, it invests in a portfolio of global internet firms and is best known for its 31% stake in Tencent.
The addition will shake up the continent’s tech landscape, which has been struggling to compete with U.S. and Chinese giants.
Source: seekingalpha.com
