Prosus writes down R12bn investment in Russia – BusinessLIVE


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Prosus, the international e-commerce arm of Naspers, has written down its $769m (R12bn) stake in a Russian social networking platform and vacated its board seats, joining a host of companies and investors tallying up the losses from Moscow’s invasion of Ukraine.
Prosus, worth R1.9-trillion, holds a minority 27% stake in social media company VK Group — previously known as — which is worth about $165m. Its platform known as VKontakte is touted as Russia’s answer to Facebook…
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