Is Naspers management destroying its value

Naspers’ operating assets are producing returns well below the cost of capital (and in fact operating profit has been and remains negative). A significant reason for the discount is that Naspers/Prosus is investing (and re-investing) in value destroying endeavours. Michael Avery speaks to Brian Kantor, an economist and former Chief Investment Strategist of Investec Wealth & Investment and David Holland, a co-founder of Fractal Value Advisors, about the pandemic of misaligned executive pay