Brazil’s Nubank Says It Is Not Pursuing Deal with Monzo
14 Articles
14 Articles
Nubank denies active Monzo takeover talks after shares plunge
Brazilian fintech Nubank has denied it is in active takeover talks with digital bank Monzo after shares in the firm plunged on speculation of a deal. The Latin American giant denied on Wednesday night that it was pursuing an acquisition of the UK fintech darling. While the firm said it does not generally comment on [...]
The Nubank sent a statement to the Securities and Exchange Commission (SEC, the US CVM), denying that it seeks to buy the British Fintech Monzo, after reports from the European press in this sense in recent days. Exclusive material for subscribers. To have full access, access the link of the subject and register.
The company stated that its focus remains in Brazil, Colombia, Mexico and the United States.
Rumors of Monzo's possible purchase caused last Monday a collapse of about 10 percent of Nubank's shares traded on the New York Stock Exchange.
“Although we have great respect for Monzo, the company is not negotiating any operations with Monzo,” Nubank said.
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