Investing.com - Nu Holdings Ltd. shares rose 6% in after-hours trading on Wednesday after the company denied reports of a possible acquisition of the British fintech company Monzo.
In a statement addressing recent media speculation about a potential transaction, the Brazilian digital bank said that while it has “great respect for Monzo,” it is not seeking to acquire the UK-based challenger bank.
As part of its normal business operations, Nu regularly evaluates opportunities that could support its own growth and long-term goals, including partnerships, investments, and acquisitions, the company said.
The company remains focused on its strategic priorities: strengthening its position in Brazil, scaling its business in Mexico and Colombia, and expanding its presence in the United States and globally through Nu Global.
Nu’s capital allocation framework remains unchanged, with investment decisions continuing to be based on strategic fit, expected returns relative to the company’s cost of capital, long-term value creation per share, and the management and financial resources required to execute its priorities.
My personal opinion: We won’t see $10 again—I told you, if they go through with the acquisition, the price will drop @jkb83
Good thing I got out at just under $13 on the day the rumors broke and got back in today at 3:50 p.m. at $12.17 :)