SoftBank to Consider Acquiring 5% Stake in WirecardMore
(Bloomberg) — SoftBank Group Corp. is considering an investment in Wirecard AG that could give the Japanese conglomerate a 5 percent stake in the beleaguered German internet payment firm, according to people familiar with the matter. Wirecard’s American depositary receipts jumped on the news.
SoftBank has hired financial advisers and is working on a deal to acquire bonds that can be converted into Wirecard shares, said the people, who asked not to be identified because the information is private. Should an agreement be reached, it could be announced as early as this month, they said.
A representative for Tokyo-based SoftBank declined to comment. A spokeswoman for Munich-based Wirecard didn’t respond to emails and phone calls requesting comment after business