In addition, Naspers, the parent company of MIH TC Holdings Ltd., announced on March 22 that it will not further sell its shares for at least the next three years.

The explanation given by the South African newspaper in a statement on March 22 was that the funds will be used to strengthen the company's balance sheet and will make some investments to accelerate the global expansion of the company's classified advertising, online food distribution and Internet finance businesses.

ation, and other emerging areas that may emerge in the future.

South Africa-based investment group MIH is South Africa's largest pay-TV operator.

It has invested in new media in emerging countries for many years and is known as "one of the top five media investment groups in the world."

In 1997, MIH entered China and invested in Beijing Youth Daily and Maimai.com.

As the actual controller of MIH, South African newspapers were founded in 1915.

The official website introduces it as a global Internet and entertainment group and one of the world's largest technology investment companies, with operations in 120 countries and regions.

The 2017 annual report of the South African Press Group shows that the company's largest shareholder is the South African Public Investment Company (PIC), with a shareholding ratio of 13.97%.

South African Public Investment Company is one of the largest investment management companies in Africa, with assets under management exceeding US$1 trillion.

Related Q&A: Is ICBC the largest shareholder of South African Press Group? ICBC is not a shareholder of South African Press Group.

ICBC does not control the South African Press Group. The Industrial and Commercial Bank of China controls "Standard Bank of South Africa". This acquisition occurred in December 2014, when ICBC acquired 60% of the shares of Standard Bank of South Africa and became Standard Bank of South Africa.

The controlling shareholder, Standard Bank of South Africa and the South African Press Group have no equity relationship.

Therefore, the rumors are likely to be "replacement".

The main link between ICBC and SoftBank is that ICBC invested and controlled Standard Bank of South Africa.

South Africa is a mixed business. Companies that Standard Bank of South Africa has invested in, such as the South African Newspaper Group, have also invested in some Internet companies. Therefore, ICBC and Standard Bank of South Africa have relationships with these Internet companies, and there are even scandals about holding shares.

.

Extended information and in Tencent's holding chain, Tencent's major shareholder is South Africa's MIH, and MIH's controlling shareholder is Naspers Group, and the major shareholder of this South African newspaper and media group is PIC Fund, not the ICBC as rumored

As the major shareholder of Standard Bank of South Africa, Tencent has no relationship with ICBC.

Alibaba is even simpler. ICBC is not SoftBank's major shareholder at all. SoftBank's major shareholder has always been Masayoshi Son, and the top five major shareholders are all Japanese companies and have nothing to do with ICBC.

Related Q&A: Is Tencent controlled by Industrial and Commercial Bank of China?

Let me first conclude that Tencent is not controlled by the Industrial and Commercial Bank of China at all. This rumor has been circulating for many years. Today I will refute it for everyone.

Tencent has many shareholders. The largest shareholder is Naspers, whose Chinese name is South African Newspapers, which just reduced its holdings last month.

This company still held more than 30% of Tencent Holdings' shares before April 2021, but it sold some in April last year, so by the end of 2021, it still had 28.82% of Tencent's shares, still Tencent's largest

shareholders.

We originally promised not to reduce our holdings within three years, but we broke our promise in June this year.

Tencent's largest shareholder reduced its holdings twice in more than a year. On June 27, Tencent Holdings issued an announcement on the Hong Kong Stock Exchange saying that its major shareholder Naspers (South African Newspapers) was short of money and would reduce its holdings of Tencent Holdings shares to cash out.

This time, they did not say how much they would reduce their holdings. They only said they would reduce their holdings by a small amount every day. It is not yet known what percentage of Tencent Holdings shares the South African newspaper industry will still hold after the reduction.

Of course, Tencent is about to release its 2023 mid-term report. Then we will know how many Tencent shares the South African newspaper industry has sold in the past six months and how much money it has cashed out.

What is certain is that even if the South African newspaper industry sells some Tencent shares, it will still be the shareholder with the largest shareholding ratio. I estimate that it will sell about 5% of the shares this time, leaving about 23%.

Who are the major shareholders of South African newspapers?

Now that we know that Tencent's largest shareholder is the South African newspaper industry, let's take a look at whether the South African newspaper industry is controlled by the Industrial and Commercial Bank of China.

South African Newspaper Group is a company mainly engaged in pay television, publishing magazines, printing books, and newspapers. It is listed on the Johannesburg Stock Exchange in South Africa and is also traded on the Pink Sheets Market in the United States (similar to our Third Board Market).

Both markets are very niche, and it is difficult to find information. I used several trading data software to find relevant information about the South African newspaper industry.

According to data, the largest shareholder of the South African newspaper industry is Public Investment Corporation of South Africa, whose Chinese name is Public Investment Corporation of South Africa. It holds 13.33% of the shares of the South African newspaper industry and is the largest shareholder with the highest shareholding ratio.