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NPSNY - Naspers' subsidiary Prosus to acquire $5B in shares
Naspers Ltd ADR Repstg Cl N
In order to enhance shareholders' value, Naspers (NPSNY) announced that Prosus (PROSF) board seeks to acquire up to $5B in total of Naspers and Prosus shares.Share purchase also indicates a investment in the group's strong internet portfolio.Purchases will be funded utilizing cash resources and shares will be excluded from Naspers' per share financial metrics.Purchase to be launched post earnings release; expected on Nov.23, 2020.