Late on Friday, Naspers CEO Bob van Dijk and chief financial officer Basil Sgourdos spoke to analysts about the group's decision to sell 2% of its stake in Chinese Internet giant Tencent.

Van Dijk explained the rationale for the sale and what the JSE-listed Internet and media group intends to do with the proceeds. Naspers sold 190m Tencent shares, reducing its stake from 33.2% to 31.2%, yielding US$9.8bn.