Naspers, Prosus to sell Tencent shares to fund buybacks

FILE PHOTO: A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

(Reuters) - 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.

(Reporting by Savyata Mishra in Bengaluru; Editing by Rashmi Aich)