Naspers-owned Prosus gives up R7 billion investment for nothing

VK sold the shares acquired from the Dutch e-commerce company to its management team at market price in a deal valued at 24.8 billion rubles , VK said in a statement Thursday.

Prosus, which owned a 27% stake in VK, said in March it would write off $769 million following the Russian invasion of Ukraine. Trading of VK’s shares in London was suspended and its Chief Executive Officer Vladimir Kiriyenko was sanctioned by the US Treasury. He’s the son of one of Russian President Vladimir Putin’s top aides, Sergei Kiriyenko, and VK is controlled by companies affiliated with Gazprom PJSC, the state-owned gas giant.VK has more than 49 million daily users in Russia and has expanded its dominance in the market as the government targeted foreign social media platforms during an internet crackdown.

Hey Cyril This is what people with a moral compass do

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Does SA really need a state-owned shipping company?SouthAfrica is alone among Brics nations in not having its own ships, which makes it vulnerable to supply disruptions, says the DoT. Moneyweb I see the mouths water PresidencyZA of your out-of-control cadres at MYANC Really? 'Vulnerable to supply disruptions' ......? So maybe fixing the Transnet rail network, the road network and all of our ports should be a priority?
Source: Moneyweb - 🏆 5. / 77 Read more »

BREAKING NEWS: Ethos Private Equity spins out black-owned investment firmInfinite Partners will comprise key members the Ethos mid-market fund's investment team The irony of the picture 😂
Source: BDliveSA - 🏆 12. / 63 Read more »

FNB launches R200m Vumela fund to grow small businessOn Tuesday FNBSA launched its fourth Vumelafund, worth R200 million, which aims to offer alternate financing to 150 black-owned businesses and create 1 000 jobs. Moneyweb BusinessNews NtandoThukwana
Source: Moneyweb - 🏆 5. / 77 Read more »