Tencent meltdown: Billions shaved off Naspers and Prosus at sensitive moment

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Both Naspers and Prosus have lost 14% of their value in just two days, as a Chinese regulatory crackdown hurt tech giant Tencent.
Both Naspers and Prosus have lost 14% of their value in just two days, as a Chinese regulatory crackdown hurt tech giant Tencent.
VCG via Getty Images

Naspers and Prosus have been left bleeding as a Chinese government crackdown hit tech giant Tencent. 

China has announced new regulations for the education technology sector, requiring that companies operate as non-profits, which has triggered a sell-off of Chinese stocks like Tencent, according to Bloomberg.  

The largest video games publisher in the world, Tencent also owns the messaging service WeChat, which has more than 1.2 billion users, mainly in China. Among its many other assets, it also has tutoring apps and online learning platforms – which were affected by the Chinese crackdown.

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