Visa International trumped Mastercard’s £233 million offer today for a small British fintech with a £247 million counter-bid, in a battle likened to two walruses squabbling over a shrimp!
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Visa trumps Mastercard fintech offer
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The bidding war between the two giants of global payments processing, which weigh in with market values of $308 billion (Visa) and $221 billion (Mastercard), has set the share price of Earthport alight since December 27 when Visa first announced an offer. The shares had been languishing earlier in the month at as low as 5½p amid concern that the lossmaking business might need a fresh injection of capital to fund its ambitious expansion plans.
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