Naspers shares slide

 / 15 Nov '12

Shares of South African e-commerce and media firm Naspers drop 3.4 percent to 535.50 rand, tracking a 7 percent tumble in China's Tencent Holdings , which is 34 percent owned by Naspers.

Tencent, China's biggest online gaming and social networking company, surprised the market with a rare earnings miss after the close of trade on Wednesday, as efforts to expand into new businesses hit margins and the number of its fee-paying Internet users fell.

Tencent headquarters at Nanshan Hi-Tech Industrial Park in the southern Chinese city of Shenzhen. Credit: REUTERS

Naspers' Asia business, which includes Tencent, currently makes up about 22 percent of its revenue, according to Thomson Reuters data. - Reuters

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