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A tech giant has emerged in Europe

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How Europe lost its tech companies Description video: Where did all the tech companies go? Nokia, Philips, Alcatel and the others? (The Story Behind Ep. 24)\n\n[[[ TWITTER POLL ]]]:\n\nhttps://twitter.com/TechAltar/status/937639966074687488\n\n\n[[[ MORE TECHALTAR ]]]:\n\nhttp://youtube.com/TechAltar\nhttp://twitter.com/TechAltar\nhttp://instagram.com/TechAltar\nhttp://facebook.com/TechAltar\nhttp://plus.google.com/+TechAltar\n\n[[[ DIRECT SUPPORT ]]]:\n\nIf you want to support TechAltar […]

How Europe lost its tech companies

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A tech giant has emerged in Europe

$ 100 billion internet company registered in Amsterdam today.

The firm, dubbed Prosus, is part of the South African giant Naspers. The newly minted company immediately entered the ten largest world Internet groups. It is noteworthy that on the eve of the European community complained the dearth of large internet tech companies to compete with American and Chinese giants such as Google, Facebook, Alibaba and Tencent.

"Listing Prosus is an exciting step forward for the group by giving technology investors direct access to our unique and attractive portfolio of international internet companies", – said in a press release from the Naspers and Prosus Group.

A tech giant has emerged in Europe

Prosus is not a consumer internet business in and of itself, as it does not offer digital services under its own brand like Facebook or Alibaba. Instead, he invests in a portfolio of global internet companies in sectors ranging from fintech to delivery. food.

The group’s most famous investment is 31% of shares of the Chinese tech giant Tencent. 

It is reported that in As part of the new structure, Prosus will hold Nasper’s stake in Tencent, as well as positions in other firms such as the Russian social networking company Mail.ru group and the German food delivery service Delivery Hero. Naspers will remain the majority owner of the new company.

Europe has lagged behind the US and China as the birthplace of large tech companies. Of the 20 largest Internet organizations at cost in 2018 year, none had a headquarters in Europe. Last month there were reports that the EU had developed a plan creation of a sovereign wealth fund to invest in «high-potential European companies», that could compete with the big tech firms in the US and China.

Naspers believes that choosing Euronext Amsterdam is and will be beneficial for the company, as the Euronext markets are among the largest, most integrated and proven capital markets in Europe..

Prosus will trade under the ticker symbol "PRX".