Mastercard to purchase a minority stake in MTN’s $5.2B fintech business

Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cellphone provider, which it values at $5.2 billion. The signing of the formal investment agreements will likely occur very soon as both parties near the end of the regular due diligence process; the investment will be closed subject to usual closing conditions, MTN announced in a statement on the company’s half-year financial performance posted on Monday.
According to MTN Group President and CEO Ralph Mupita, the deal will be structured as a commercial partnership on payments and remittan

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