SoftBank's $1 billion investment in beleaguered Wirecard will help the German payments firm extend its reach in Asia
Investment may be viewed as a vote of confidence in the digital-payments company, whose shares have lost 30% this yearJapan’s SoftBank Group Corp. plans to invest about €900 million in Wirecard AG, forging a partnership that allows SoftBank to take a minority stake in the German payments company, Wirecard said Wednesday.
The investment by the Japanese conglomerate may be viewed as a vote of confidence in the German digital-payments company, whose shares have lost 30% since late January, when Wirecard admitted a law firm was investigating accusations of accounting misconduct in Asia. Wirecard has denied wrongdoing and promised...
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