Naspers, Prosus to sell Tencent shares to fund buybacks

(Reuters) – Chinese software giant Tencent Holdings said on Monday it noted an announcement from two of its shareholders, South Africa’s Naspers Ltd and Prosus, that they would start a long-term, open-ended share repurchase programme.

The programme would be funded by on-market sales of Tencent’s shares held by the two companies, Tencent said.

(Reporting by Savyata Mishra in Bengaluru; Editing by Rashmi Aich)