U.S. markets closed
  • S&P 500

    4,063.04
    -89.06 (-2.14%)
     
  • Dow 30

    33,587.66
    -681.50 (-1.99%)
     
  • Nasdaq

    13,031.68
    -357.75 (-2.67%)
     
  • Russell 2000

    2,135.14
    -71.85 (-3.26%)
     
  • Crude Oil

    65.72
    +0.44 (+0.67%)
     
  • Gold

    1,815.90
    -20.20 (-1.10%)
     
  • Silver

    27.64
    -0.02 (-0.06%)
     
  • EUR/USD

    1.2076
    -0.0076 (-0.63%)
     
  • 10-Yr Bond

    1.6950
    +0.0710 (+4.37%)
     
  • GBP/USD

    1.4059
    -0.0085 (-0.60%)
     
  • USD/JPY

    109.6600
    +1.0400 (+0.96%)
     
  • BTC-USD

    54,554.46
    -2,031.88 (-3.59%)
     
  • CMC Crypto 200

    1,478.26
    -85.57 (-5.47%)
     
  • FTSE 100

    7,004.63
    +56.64 (+0.82%)
     
  • Nikkei 225

    28,147.51
    -461.08 (-1.61%)
     

Mastercard To Acquire Minority Stake In Airtel Africa's Mobile Money Operations For $100M: CNBC

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Anusuya Lahiri
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Mastercard Inc (NYSE: MA) will acquire a 3.75% stake in Airtel Africa subsidiary, Airtel Mobile Commerce BV (AMC BV), for $100 million (Rs 733 crore) at a $2.65 billion valuation, CNBC reports.

  • AMC BV is the holding company for several of Airtel Africa’s mobile money operations. It owns and operates mobile money businesses across all of Airtel Africa’s 14 operating countries.

  • Mastercard and Airtel Africa have inked agreements to consolidate partnerships across multiple geographies and zones, including card issuance, payment gateway, payment processing, merchant acceptance, and remittance solutions.

  • Airtel Africa will use the acquisition proceeds for debt repayment and investment in network and sales infrastructure.

  • Mastercard held cash and cash equivalents of $10.1 billion as of Dec. 31, 2020.

  • Price action: MA shares traded lower by 0.5% at $356.05 in the premarket session on the last check Thursday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.