The emblem of funds firm Worldline is seen on the firm headquarters within the monetary and enterprise district of La Protection, close to Paris, France, October 26, 2023. REUTERS/Gonzalo Fuentes/File Photograph Purchase Licensing Rights
PARIS, Dec 1 (Reuters) – Shares in Worldline (WLN.PA) surged virtually 12% on Friday after a media report mentioned Credit score Agricole (CAGR.PA) was contemplating buying a stake within the French fee processing firm.
The French lender is exploring constructing a stake in Worldline in an effort to assist stabilise its struggling funds associate, Bloomberg reported, citing individuals conversant in the matter.
Different French monetary establishments may additionally have a look at taking part in a job in Worldline’s future, Bloomberg added, citing a few of the individuals.
Credit score Agricole and Worldline declined to remark.
Earlier this 12 months, the businesses signed a binding settlement to arrange a three way partnership to supply fee providers to companies and their prospects. They anticipate to obtain the mandatory approvals by the top of this 12 months earlier than launching in early 2024.
Shares in Worldline pared a few of their preliminary beneficial properties to face 5% greater at 1220 GMT.
The inventory misplaced greater than half its worth in late October, sending ripples by means of the sector, after Worldline shocked traders with a reduce to its full 12 months monetary targets because of the financial slowdown, notably in Germany.
It additionally severed ties with a few of its retailers to scale back dangers citing a rise in cybercrime.
Italian funds firm Nexi (NEXII.MI) final month confirmed its steering whereas the Netherlands’ Adyen (ADYEN.AS) reassured the market with its “extra practical” medium-term steering.
Worldline shares have fallen greater than 58% this 12 months.
Reporting by Piotr Lipinski; Enhancing by Sharon Singleton, Kirsten Donovan
Our Requirements: The Thomson Reuters Belief Ideas.
