{"id":48169,"date":"2013-10-24T00:13:48","date_gmt":"2013-10-23T22:13:48","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=48169"},"modified":"2013-10-24T08:58:58","modified_gmt":"2013-10-24T06:58:58","slug":"twitter-facebook-to-boost-naspers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/48169\/twitter-facebook-to-boost-naspers\/","title":{"rendered":"Twitter, Facebook to boost Naspers"},"content":{"rendered":"

Despite a retreat in recent sessions, Paul Theron<\/a> from Vestact<\/a>\u00a0believes that the current bullish sentiment within the global tech sector will push Naspers<\/a> through R1,000 on the JSE.<\/p>\n

On Wednesday, Naspers closed R21.92 \u00a0or 2.28% down to R940 on the local exchange, giving the group a market cap of R391 billion.<\/p>\n

Speaking on CNBC Africa, Theron said: \u201cI think its going well through that R1,000 a share mark. I think it will be fun to own it at that time.”<\/p>\n

He said that when social networking sensation Twitter<\/a> lists on the NYSE, and with Facebook reaching and trading at all-time highs, “what it does by extension is make Tencent<\/a> more valuable”.<\/p>\n

Naspers, through its subsidiary MIH, has a 34%\u00a0interest in Tencent, China\u2019s biggest Internet company.<\/p>\n

“It will also make Google<\/a> more valuable, it will make Yahoo<\/a> more valuable, it will make all of the listed Internet companies just perk up and trade at higher multiples,\u201d Theron said.<\/p>\n

“I think we are going to see Tencent trading higher on the Hong Kong market which is going to push Naspers through that R1,000 a share limit here on the local market. I know it is pretty elevated and at a pretty frothy price, but I think that its the stock we have got to own.\u201d<\/p>\n

On Monday, shares in Tencent surged as much as 5% after analysts at\u00a0Barclays<\/a>\u00a0named the group among its top picks in China\u2019s online sector. That boosted Naspers initially, however, it has since retreated during the course of the week, from a high of R980.<\/p>\n

Internet search giant Google recently broke through $1,000 per share on the Nasdaq, while Facebook<\/a> has lifted past the $50 a share mark having initially listed at $38 in 2012.<\/p>\n

More on Naspers<\/h3>\n

Naspers eyes JSE landmark<\/strong><\/a><\/p>\n

Naspers reconfigures its board<\/strong><\/a><\/p>\n

Naspers to discuss Koos Bekker\u2019s future<\/strong><\/a><\/p>\n

Naspers: JSE history maker<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a retreat in recent sessions, Paul Theron from Vestact believes that the current bullish sentiment within the global tech sector will push Naspers through R1,000 on the JSE.<\/p>\n","protected":false},"author":9,"featured_media":43356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[3300,45,26,107,1363,5141,1977,93],"class_list":["post-48169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-barclays","tag-facebook","tag-headline","tag-naspers","tag-nyse","tag-paul-theron","tag-tencent","tag-twitter"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=48169"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48169\/revisions"}],"predecessor-version":[{"id":48201,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48169\/revisions\/48201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/43356"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=48169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=48169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=48169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}