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Europe, News

Prosus: Worst day in 3-months after Naspers’ share sale in co

** Shares in Prosus are down 2.4% after South Africa’s Naspers says it sold around 1.5 billion euros worth of shares in the Dutch-based technology group

** Naspers, which is the majority shareholder in Prosus, intends to use the proceeds to buy back its own shares over time

** It is not the Prosus-level buyback bulls had expected, Jefferies notes, saying it may raise expectations that Naspers will sell down more Prosus over time

** Prosus is one of the worst performers of the Amsterdam Exchanges Index

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