Betaville

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Chinese said to be in talks with Wirecard about purchasing a 25pc stake; could make move on the whole company - sources Posted: 08 Jun 2016 03:45 PM PDT A mystery Chinese company is in talks with German payment processor outfit Wirecard about a deal to buy a significant stake in the business or even purchase the group outright. According to well-placed sources, a Chinese telecoms company has been talking to Wirecard, whose current market capitalisation stands at EURO 4.7 billion, for quite some time about a partnership and a potential deal. Talks are understood to be relatively advanced, with negotiations taking place about the structure of the deal and valuation. One potential transaction could see the Chinese company - thought to be China Mobile - take a significant stake in the business, possibly as much as 25pc. It's also understood there have been conversations with Wirecard about the Chinese group buying a stake of more than 30pc in the German business. This could mean the Chinese outfit would have to make an offer for the whole of Wirecard. Discussions have been taking place about how much the Chinese bidder is willing to pay for its stake Wirecard. Sources said the Chinese company has indicated it could be willing to pay between EURO 53 and EURO 55 a share for Wirecard. A well-known advisory firm/ financial institution is understood to be working for Wirecard. Talks with the Chinese company come at an interesting time for Munich-based Wirecard. The company has seen a wave of negative publicity following the release of a research piece from Zatarra. I have asked official spokespeople from Wirecard and China Mobile for a comment but so far I have not heard back. UPDATE: A Wirecard spokesperson just responded with an official "no comment".

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