South African media group Naspers has done sensationally well out of its investment in the Asian start-up Tencent Holdings.
That Hong Kong-listed company has developed into one of China’s three biggest Internet businesses, along with Alibaba and search engine Baidu. Tencent, which owns the QQ messaging service and the WeChat mobile messaging app, is now valued at about $120 billion.
Naspers’s original stake of $34 million is now worth $40 billion
source On Target by Martin Spring
