Naspers as a long term opportunity / cheap exposure to Tencent.

 

Naspers : Tencent stake worth 160 BLN USD while Naspers market cap on JSE at around 112 BLN USD …
Gap is increasing as Naspers stock price corrected , move mainly due to capital outflows linked to political uncertainties in SA.

All other Naspers stake and businesses are valued « negatively » considering Tencent current price !! …  2 solutions : 1/ Tencent price at some point will collapse.
2/ Gap valuation will close in the future via Naspers stock price adjusting . Anyway , buffer at current price is VERY VERY LARGE .

Stock has corrected 22 % from 4100 to 3200 (top to bottom) – see chart below – :  we are at interesting  long term entry levels at current price or better at october
trigger levels  (see green line on chart) around 3000 ZAR which should act as strong support.

 

UBS Target price … ZAR 5250 (Today ZAR 3290)

 

 

 

https://www.fin24.com/Tech/Companies/naspers-considers-structural-options-to-reduce-tencent-value-gap-20171213