Prosus initiates $5 billion buyback to reduce reliance on Tencent holdings

Five billion dollars will be returned to shareholders as Prosus attempts to rebalance the geometry of its portfolio. The Amsterdam-listed group, dominated by a $111 billion stake in China’s Tencent Holdings, announced the buyback program alongside a 40 percent increase in its annual dividend. The decision reflects a broader mandate from Chief Executive Fabricio Bloisi to elevate the firm’s directly operated businesses over its passive investments.

The shift is already underway in the cap table. Over the past fiscal year, Prosus committed $8 billion to take full control of food-delivery platform Just Eat Takeaway, travel agency Despegar, and motor-classifieds site La Centrale. The group signaled a continued appetite for acquisitions through March 2027, focusing on bolt-on mergers and minority positions that can accelerate what Bloisi describes as the company's broader tech ecosystem.

Prosus is also pruning its fringes to fund this expansion. The group expects to divest further noncore assets in the coming year, liquidating secondary holdings to concentrate capital on platforms with scale potential. While Tencent remains the cornerstone of the group’s valuation, the deployment of billions into logistics, travel, and buybacks suggests an operator intent on proving it can generate value outside the shadow of its most famous investment.