Prosus N.V.

Indian fintech startup Navi said on Wednesday it will raise $100 million from Dutch technology investor Prosus NV in its first institutional funding round, ahead of a planned initial public offering. The investment values Navi at about $1.3 billion, according to the Economic Times, while Navi is seeking a valuation of about $2 billion in the IPO, a source familiar with the matter said. Navi was founded in 2018 by Sachin Bansal, a co-founder of Walmart-backed Indian e-commerce firm Flipkart, and offers digital payments, lending, mutual funds and insurance through a digital platform. The investment is subject to regulatory approvals, including from the Competition Commission of India.

Uber Technologies announced it will acquire German delivery company Delivery Hero in a $14.8 billion deal. Uber already held a stake and will reach 53% ownership through a purchase from Prosus, followed by a voluntary tender offer for remaining shares. The acquisition roughly doubles the number of markets where Uber offers both delivery and rideshare, responding to DoorDash's international expansion. Motley Fool contributors noted the deal is more defensive than offensive, with Uber's delivery bookings already nearly even with mobility bookings, and highlighted the growing importance of Uber's advertising business layered on its platform.

Prosus has completed cash tender offers for its 2027 notes, accepting all valid tenders and setting payment for July 16, 2026, with the purchased notes to be cancelled. The shares closed at €40.43, slightly below a widely followed fair value estimate of €41.27, implying the stock may be about 2% undervalued. However, a discounted cash flow model from Simply Wall St estimates a much lower fair value of €9.39, suggesting the stock is overvalued on that measure. The company's heavy reliance on Tencent and ongoing regulatory pressure on tech assets remain key risks.

Uber Technologies has agreed to acquire German food-delivery company Delivery Hero in a deal valued at $14.8 billion. Uber will offer 41.50 euros, or about $47.60, for each Delivery Hero share, a roughly 26% increase from its original 33-per-share proposal in May, and will gain operations across 50 markets, expanding its global presence to 99 markets from 79. The transaction will be financed with cash and new debt, backed by a 14 billion bridge loan, and Prosus will sell its entire 16.8% stake as part of the deal. Uber plans to retain Delivery Hero's Berlin headquarters and workforce until at least 2029 and invest approximately 2 billion in Germany through 2031, while SSW Partners will separately acquire 14 markets for about $1.6 billion to address regulatory concerns. Regulatory scrutiny is expected, particularly in Europe where the two companies have overlapping operations, and the deal follows recent consolidation in the food-delivery industry.

Prosus N.V. has priced its previously announced any-and-all cash tender offer for its outstanding 4.850% Notes due 2027, setting the total consideration at U.S.$1,002.31 per U.S.$1,000 principal amount. The pricing was determined at 11:00 a.m. New York City time on July 14, 2026, based on a fixed spread of 50 basis points over the 4.375% U.S. Treasury due July 15, 2027. The offer, covering U.S.$614,146,000 in outstanding notes, expires at 5:00 p.m. New York City time today, with settlement expected on July 16, 2026. Holders who validly tender will also receive accrued and unpaid interest up to but not including the settlement date. The company has separately elected to redeem any notes not purchased in the tender, with a redemption date of August 10, 2026 at a make-whole price that may differ from the tender consideration.

Prosus NV reported full year 2026 revenue of $9.7 billion and EBITDA of $1.3 billion, with free cash flow increasing by $2 billion over the last three years. The company disposed of $2 billion in assets, raised its dividend by 100%, and completed a $46 billion buyback. Key businesses OLX and iFood drove growth, with OLX achieving 48% profitability, while PayU showed a modest 2% profitability rate. CEO Fabricio Bloisi highlighted that AI innovation is central to strategy, with development of large language and commerce models, and the ecosystem contributed over 40% year-over-year growth in travel, classifieds, and payments. Prosus plans a $5 billion buyback in fiscal 2027 and aims to increase free cash flow and EBITDA through disciplined capital allocation.

European stocks were subdued on Monday, with the pan-European Stoxx 600 marginally lower at 635.36, while technology shares rallied after South Korea announced a $576 billion semiconductor and AI investment plan backed by Samsung and SK Hynix. The German DAX was marginally higher, France's CAC 40 dropped 0.4 percent, and the U.K.'s FTSE 100 slipped 0.2 percent as crude oil prices rose slightly on renewed U.S.-Iran tensions. Technology stocks gained, with ASML Holding, Infineon, and STMicroelectronics climbing 1 to 3 percent. Nordex Group shares rose about 1 percent after securing a 325-MW order in the United States, while Prosus N.V. rallied 2.4 percent after reporting an 84 percent jump in full-year adjusted core profit. French biotech Ipsen advanced 1.7 percent after agreeing to acquire U.S. biotech Kartos Therapeutics in a deal worth up to $1.75 billion, and BT Group rose about 1 percent after signing an agreement to combine its international business in a joint venture with Verizon.

Prosus reported an 84% rise in adjusted earnings to 1.3 billion US dollars over the past year, as it pushes ahead with an operational turnaround at Just Eat Takeaway following its £3.6 billion takeover. Just Eat Takeaway contributed revenues of 1.9 billion dollars and adjusted earnings of 83 million dollars in the six months since the acquisition. The group said a pilot programme in selected cities has shown order growth of up to 25%, and overall revenues rose 57% amid a boost from acquisitions. Prosus is also investing in AI, developing its own agent OpenClaw, and aims to build an AI-powered lifestyle ecosystem.

OLX Group reported full-year revenue of $992 million, a 28% increase year-on-year, with adjusted EBITDA up 53% and margins expanding by eight percentage points. Motors revenue surged 42%, boosted by the La Centrale acquisition and AI-powered tools, while real estate grew 26% and jobs rose 14%. The company invested $30 million in AI during the year, deploying over 85 AI use cases and 12 generative AI solutions across its platforms. OLX also acquired French motors platform La Centrale and divested non-core assets in Uzbekistan, Kazakhstan, Poland and Romania to sharpen its strategic focus.

Prosus reported an 84% leap in full-year adjusted core profit, with its consumer platforms profitable across all regions for the first time. Adjusted EBITDA across its digital services and e-commerce portfolio rose 84% to $1.3 billion on revenue up 57% at $9.7 billion. The company posted record free cash flow of $1.5 billion, up from $1 billion a year earlier, and raised its full-year dividend by 40% to 28 euro cents per share. Its European food delivery platform Just Eat Takeaway.com contributed $1.9 billion in revenue and $83 million in adjusted EBITDA, while Latin American food delivery platform iFood grew adjusted EBITDA by 178% to $400 million and European online marketplace OLX's adjusted EBITDA rose 61% to $481 million.

Alan, the first new health insurer licensed in Canada since 1957, has agreed to a Series G financing round of more than $780 million, valuing the company at $8.9 billion. The round is led by Prosus, with Ontario Teachers' Pension Plan returning for its third consecutive investment. Alan plans to use the funds to deepen its Canadian presence by doubling its team over the next 24 months and expanding from Toronto into Montreal, bringing its prevention-first, fully digital model to a group-benefits market dominated by three incumbents that together hold roughly three-quarters of coverage. The company, which now serves 100 Canadian employers and over 4,100 members, has seen member volume more than triple since the end of 2025. Alan operates in four countries, has surpassed 1.1 million members, and reached more than $1.3 billion in annual recurring revenue in the first quarter of 2026.

Prosus NV is rolling out its own agentic AI platform, ToqanClaw, to five million partner online food companies and restaurants this week. Euro Beinat, Prosus's head of data science and AI, said the platform offers many of the same capabilities as OpenClaw but inside a more secure, privacy-conscious European environment. The AI agents can build data-driven applications from conversational prompts, helping partners with pricing advice, inventory predictions, and operational bottleneck alerts. Prosus now has about 1,000 AI engineers, machine-learning specialists, and data scientists, and Beinat noted that the tools they build can generate returns of up to five times the investment made in them.

Kold Investments published an open letter to the Prosus board, arguing the company should focus on NAV-per-share accretive buybacks and accept its role as a decentralized holding company dominated by its Tencent stake. The investment firm, a Prosus shareholder, criticized management's pursuit of a centralized global tech identity as a self-deceptive strategic miscalculation that diverts resources from buybacks. The letter, titled 'The Prosus Emperor's New AI Clothes,' uses a fairy tale to illustrate what Kold views as a misalignment with shareholder interests. Kold Investments believes the lowest-risk path to maximizing net asset value per share is to continue arbitraging the NAV discount through maximum buybacks while letting decentralized businesses remain independent.

Prosus, the largest shareholder of Tencent Holdings, reported that revenue for the fiscal year ended March 31 exceeded $7.3 billion, up from $6.2 billion a year earlier. The Amsterdam-listed technology investor also generated $1.1 billion in adjusted EBITDA from its Ecosystem segment, formerly known as ecommerce. Core headline earnings from continuing operations are expected to rise between 19% and 28%, while headline earnings are projected to grow between 6.7% and 15.7%, reflecting strong performance across its businesses, most notably Tencent. Earnings per ordinary share are forecast to range from a 2.6% decline to a 6.4% increase, partly due to a lower gain from selling Tencent shares and higher unrealized foreign currency losses. The company will publish its full fiscal 2026 results on June 29.