Naspers plans to spin off its Tencent stake and other holdings

EUROPEANS ARE keen users of the internet, but you would not know it looking at a list of the world’s biggest companies peddling stuff and services online. The continent’s failure to spawn an Amazon or Alibaba—the top 20 most valuable internet firms are either American or Chinese—has long been a blemish on Europe’s collective self-esteem. That will soon change. On March 25th Naspers, a South African media group, announced it would spin off a company made up of its investments in tech firms and list it in Amsterdam. Europe, at last, will have a tech giant of its own.