Nubank Denies Active Monzo Takeover Talks After Shares Plunge
The Brazilian digital bank said it is focused on Brazil, Mexico and Colombia after shares rebounded nearly 7% in New York.
- On Wednesday, Brazilian digital lender Nubank denied it is pursuing a transaction with British digital bank Monzo, addressing media reports of early-stage acquisition talks.
- Driven by widespread media speculation, Nubank issued a securities filing reaffirming that its capital allocation framework remains unchanged despite the acquisition rumors.
- Shares in Nubank surged nearly 7% in New York trading following the denial, while Robinhood and SoFi gained only 0.1% and 2% respectively, confirming the rally was Nu-specific.
- Management reaffirmed its strategic focus on "deepening its position in Brazil, scaling its businesses in Mexico and Colombia, and building its presence in the United States and around the world through Nu Global."
- Future milestones include a $1 billion share repurchase program, the newly launched Mexico bank, and a conditional United States national bank charter supporting long-term expansion.
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BizTocNu Holdings Jumps 3% After Ruling Out Monzo Deal; SoFi and Robinhood Sit Out the Rally
Nu Holdings stock surged while SoFi and Robinhood barely flinched, and the reason comes down to a single statement the Brazilian fintech issued about a deal it never confirmed in the first place.
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.
Nubank Denies Monzo Deal After £10B Takeover Reports
Nu Holdings has said it is not pursuing a transaction with British digital bank Monzo, moving to shut down takeover speculation that had pressured the Brazilian fintech's shares earlier in the week and raised questions over how aggressively it planned to use capital outside Latin America.In a securities filing on September 30, Nubank said it had “a great deal of respect for Monzo” but was not pursuing a deal. The clarification followed reports t…
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