Longtime readers may know I think that Tencent (OTC: TCEHY) is the best company in China, and the best positioned to weather the current regulatory crackdown. Despite management's best efforts, that discount has only widened, to the point where the valuation gap has become truly ridiculous.
Yahoo Finance’s Jared Blikre and Seana Smith discuss a report that Chinese company Didi has been told by the country's regulators to remove itself from the New York Stock Exchange.
South African technology investor Naspers Ltd said on Monday its first half profit climbed 11%, driven by a large contribution from Chinese internet giant Tencent in which it indirectly holds a 29% stake. Naspers, Africa's biggest company by market capitalisation, has parked all its international assets, including its Tencent stake, in its Amsterdam-listed subsidiary Prosus NV, in which it holds a 57% stake. Naspers, through Prosus, has investments spread across a multitude of online businesses including classified ads, food delivery, payments and education in countries from Brazil to India to China as well as in many parts of Europe.