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Nubank Wants To Pay Up To £10 Billion For Monzo. That Is ...
Monzo is also weighing a new funding round as Nubank seeks access to its 16 million customers and a foothold in Europe.
- On Monday, Nubank stocks fell over 8.5% after reports emerged that the Brazilian bank is in talks to acquire British digital bank Monzo Bank for between $10.8 billion and $13.5 billion.
- Seeking a European foothold, Nubank—led by Nubank CEO and Co-Founder David Velez—is eyeing Monzo's more than 16 million customers, marking a strategic pivot from its North America focus.
- Monzo has hired Morgan Stanley and Qatalyst to advise on the potential sale, which could value the firm at up to £10 billion and would likely be paid in cash and shares.
- A sale would rule out a near-term London Stock Exchange listing for Monzo, despite pressure from Government ministers to list, while rival Revolut plans a dual London and Nasdaq listing.
- Nubank, with a market value of about $65.5bn, previously planned to shut its U.S. operations to prioritize Europe; Velez stated the company is "playing the long game" regarding expansion.
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Brazilian fintech Nubank has been advancing internationally, establishing presence in the United States and expanding its activity in Mexico. Its next target may be the most ambitious so far. Exclusive material for subscribers. To have full access, access the link of the subject and register.
·Rio de Janeiro, Brazil
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Nubank’s owner is in talks to buy Monzo at up to £10bn
Monzo is in talks about a sale to Brazil’s Nu Holdings, the owner of Nubank. A deal could value the British digital bank at between £8bn and £10bn, Mark Kleinman reported for Sky News on Saturday. The talks are at a relatively early stage, according to Sky News. Monzo has hired Morgan Stanley and Qatalyst […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Nubank Wants To Pay Up To £10 Billion For Monzo. That Is ...
·Jersey City, United States
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Coverage Details
Total News Sources22
Leaning Left1Leaning Right1Center2Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
Factuality
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