Asian Tech Press (Sep 8) -- Prosus N.V., a subsidiary of South African internet group Naspers Ltd., sold 1.12 million of Tencent shares, dropping its stake to 27.99%.

Prosus, Chinese tech giant Tencent Holdings Ltd's largest shareholder, said in a statement Thursday it sold 1.115 million ordinary shares in Tencent, reducing its stake to 27.99%.

Meanwhile, Tencent announced on Thursday that it spent about HK$352 million ($44.8) to buy back 1.16 million shares.

Earlier, Prosus bought back 5.681 million shares at an average price of 67.7295 euros per share for a total consideration of 385 million euros (about $393 million) between July 18 and 22.

(US$1 = HK$7.854)