Naspers opens up to dissenting voices after overpaying for assets
Impairments of $1.7bn, mainly in education technology, a lowlight of annual results, says CFO
02 July 2024 - 05:00
Naspers aims to make better-informed capital allocation decisions, admitting in its latest earnings report that a series of bad investments in 2021 forced the technology investment group to eat humble pie.
“In 2021, people were spending a lot of money. Prosus played the same game. We lost a lot of money,” incoming group CEO for Naspers and Prosus Fabricio Bloisi told Business Day in a media briefing, hinting at the group having overpaid for certain businesses. ..
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