Prosus - “Hunger Games”
Ingham Analytics has issued a fascinating insight into Prosus. They say that Prosus has been rebuffed by the Board of Just Eat and Just Eat shareholders. Just Eat will now merge with Takeaway.com. Ingham Analytics had been sceptical that a £5.5 billion cash offer for Just Eat would have been ultimately value enhancing anyway. They also say that since listing on Euronext Amsterdam to fanfare in September 2019, the Prosus discount to its 31% shareholding in Tencent has increased and they view the listing as a flop. The Naspers discount too remains intact.
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