March 22, 2018 / 9:12 AM / in a month

South Africa's Naspers to sell 2 percent of its stake in Tencent

JOHANNESBURG, March 22 (Reuters) - South Africa’s Naspers said on Thursday it would sell 2 percent of its shares in China’s Tencent Holdings to reinforce its balance sheet and to accelerate growth, sending its shares down 3 percent.

Naspers, which owns a third of the fast-growing Chinese company, said it planned to sell 190 million Tencent shares reducing its stake to 31.2 percent.

Naspers shares fell 3.21 percent to 3,348 rand by 0907 GMT.

Reporting by Tanisha Heiberg Editing by James Macharia

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