Naspers, Prosus to sell Tencent shares to fund buybacks

Chinese software giant Tencent Holdings said on Monday it noted an announcement from two of its shareholders, South Africa's Naspers Ltd and Prosus, that they would start a long-term, open-ended share repurchase programme.

The programme would be funded by on-market sales of Tencent's shares held by the two companies, Tencent said.