Naspers hits record on Tencent surgeComment on this story
Johannesburg - Shares of media and e-commerce firm Naspers Ltd hit a record high of 1,275 rand, propelled by a surge in Chinese internet company Tencent, in which Naspers owns a little over a third.
Tencent, China's largest internet company, gained nearly 6 percent in Hong Kong on speculation it would take a 20 percent stake in Chinese restaurant-review site Dianping for $400 million (R4.3 billion) to expand its social media empire beyond messaging, games and stickers.
Naspers stake in Tencent has fuelled a record run in the South African company's share price.
Cape Town-based Naspers is up nearly 16 percent already this year after more than doubling last year.
Naspers is up more than 4 percent at 1269.58 rand after earlier hitting its record. - Reuters