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

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

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