SoftBank leads $484 million investment in online travel start-up GetYourGuide

German online travel start-up GetYourGuide has raised $484 million in an investment led by SoftBank’s $100 billion Vision Fund. It says it’s now a unicorn company, with a valuation crossing $1 billion, although it declined to comment on its exact market value. Based in Berlin, GetYourGuide is a little different to more commonly-used travel sites. It has sold more than 25 million tickets to users across 170 countries since it was founded in 2009. “There’s so much that we can still do on GetYourGu


German online travel start-up GetYourGuide has raised $484 million in an investment led by SoftBank’s $100 billion Vision Fund. It says it’s now a unicorn company, with a valuation crossing $1 billion, although it declined to comment on its exact market value. Based in Berlin, GetYourGuide is a little different to more commonly-used travel sites. It has sold more than 25 million tickets to users across 170 countries since it was founded in 2009. “There’s so much that we can still do on GetYourGu
SoftBank leads $484 million investment in online travel start-up GetYourGuide Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: ryan browne
Keywords: news, cnbc, companies, startup, softbank, online, leads, getyourguide, 484, company, billion, investment, reck, travel, activities, unicorn, tickets, million


SoftBank leads $484 million investment in online travel start-up GetYourGuide

German online travel start-up GetYourGuide has raised $484 million in an investment led by SoftBank’s $100 billion Vision Fund.

The company, which lets people book tickets for tours and other activities abroad, said Thursday that it will spend the fresh cash on expanding further internationally and adding more recreation options to its platform.

It says it’s now a unicorn company, with a valuation crossing $1 billion, although it declined to comment on its exact market value. That sees it join the ranks of firms like Germany’s N26 and Britain’s Deliveroo as it enters into Europe’s unicorn club.

Based in Berlin, GetYourGuide is a little different to more commonly-used travel sites. Whereas platforms like TripAdvisor and Expedia show customers price comparisons for hotel bookings and flight fares, GetYourGuide only lists things for holidaymakers to do upon arrival.

GetYourGuide CEO Johannes Reck says the firm is tapping into the trend of consumers caring more about in-destination “experiences” rather than “commodity items” like flights and hotels. It has sold more than 25 million tickets to users across 170 countries since it was founded in 2009.

“With this fundraise we can suddenly play in the big leagues of the worldwide leading travel companies, and we can invest with a time horizon of not one or two years but 10 or 20,” Reck told CNBC in a phone interview.

Reck added that his start-up is looking to offer more vacation activities to its app, highlighting events, music and transportation as potential areas it could explore.

“There’s so much that we can still do on GetYourGuide beyond the core product set that we have right now,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: ryan browne
Keywords: news, cnbc, companies, startup, softbank, online, leads, getyourguide, 484, company, billion, investment, reck, travel, activities, unicorn, tickets, million


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Here’s why SoftBank’s $100 billion Vision Fund places bets on unprofitable tech companies

Japan’s SoftBank has gone from telecoms giant to being known worldwide as a powerhouse in tech investment. An executive at the company’s $100 billion Vision Fund gave some insight Monday into how the tech-focused fund decides on what companies it invests in — and why making money isn’t necessarily a deal breaker. That means companies that are “addressing markets that are massive, with a product that clearly satisfies their needs.” For context, Varma was speaking alongside Rishi Khosla, co-founde


Japan’s SoftBank has gone from telecoms giant to being known worldwide as a powerhouse in tech investment. An executive at the company’s $100 billion Vision Fund gave some insight Monday into how the tech-focused fund decides on what companies it invests in — and why making money isn’t necessarily a deal breaker. That means companies that are “addressing markets that are massive, with a product that clearly satisfies their needs.” For context, Varma was speaking alongside Rishi Khosla, co-founde
Here’s why SoftBank’s $100 billion Vision Fund places bets on unprofitable tech companies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: ryan browne
Keywords: news, cnbc, companies, bets, 2018, heres, unprofitable, vision, billion, companies, softbanks, softbank, varma, oaknorth, firms, fund, executive, places, addressing, tech


Here's why SoftBank's $100 billion Vision Fund places bets on unprofitable tech companies

Attendees walk in front of a monitor displaying SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son deliverinig a keynote speech during the SoftBank World 2018 conference on July 19, 2018 in Tokyo, Japan.

Japan’s SoftBank has gone from telecoms giant to being known worldwide as a powerhouse in tech investment. And its bets on household names from Uber to WeWork have made headlines, not least because of such firms’ struggles to make a profit.

An executive at the company’s $100 billion Vision Fund gave some insight Monday into how the tech-focused fund decides on what companies it invests in — and why making money isn’t necessarily a deal breaker.

“We look for businesses that are addressing very significant pain points,” the fund’s managing partner for EMEA and Asia Munish Varma said at a fintech, or financial technology, trade show in London Monday. That means companies that are “addressing markets that are massive, with a product that clearly satisfies their needs.”

For context, Varma was speaking alongside Rishi Khosla, co-founder and CEO of online lender OakNorth, which SoftBank’s fund invested in earlier this year. OakNorth — unlike many tech firms that haven’t yet booked a profit — has been profitable since 2017.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: ryan browne
Keywords: news, cnbc, companies, bets, 2018, heres, unprofitable, vision, billion, companies, softbanks, softbank, varma, oaknorth, firms, fund, executive, places, addressing, tech


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Here’s why SoftBank’s $100 billion Vision Fund places bets on unprofitable tech companies

Japan’s SoftBank has gone from telecoms giant to being known worldwide as a powerhouse in tech investment. An executive at the company’s $100 billion Vision Fund gave some insight Monday into how the tech-focused fund decides on what companies it invests in — and why making money isn’t necessarily a deal breaker. That means companies that are “addressing markets that are massive, with a product that clearly satisfies their needs.” For context, Varma was speaking alongside Rishi Khosla, co-founde


Japan’s SoftBank has gone from telecoms giant to being known worldwide as a powerhouse in tech investment. An executive at the company’s $100 billion Vision Fund gave some insight Monday into how the tech-focused fund decides on what companies it invests in — and why making money isn’t necessarily a deal breaker. That means companies that are “addressing markets that are massive, with a product that clearly satisfies their needs.” For context, Varma was speaking alongside Rishi Khosla, co-founde
Here’s why SoftBank’s $100 billion Vision Fund places bets on unprofitable tech companies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: ryan browne
Keywords: news, cnbc, companies, tech, unprofitable, companies, billion, bets, softbank, addressing, executive, fund, heres, places, varma, oaknorth, 2018, firms, softbanks, vision


Here's why SoftBank's $100 billion Vision Fund places bets on unprofitable tech companies

Attendees walk in front of a monitor displaying SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son deliverinig a keynote speech during the SoftBank World 2018 conference on July 19, 2018 in Tokyo, Japan.

Japan’s SoftBank has gone from telecoms giant to being known worldwide as a powerhouse in tech investment. And its bets on household names from Uber to WeWork have made headlines, not least because of such firms’ struggles to make a profit.

An executive at the company’s $100 billion Vision Fund gave some insight Monday into how the tech-focused fund decides on what companies it invests in — and why making money isn’t necessarily a deal breaker.

“We look for businesses that are addressing very significant pain points,” the fund’s managing partner for EMEA and Asia Munish Varma said at a fintech, or financial technology, trade show in London Monday. That means companies that are “addressing markets that are massive, with a product that clearly satisfies their needs.”

For context, Varma was speaking alongside Rishi Khosla, co-founder and CEO of online lender OakNorth, which SoftBank’s fund invested in earlier this year. OakNorth — unlike many tech firms that haven’t yet booked a profit — has been profitable since 2017.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: ryan browne
Keywords: news, cnbc, companies, tech, unprofitable, companies, billion, bets, softbank, addressing, executive, fund, heres, places, varma, oaknorth, 2018, firms, softbanks, vision


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Softbank CEO Masayoshi Son is Warren Buffett of tech, says Silicon Valley hedge funder Glen Kacher

Silicon Valley hedge fund founder Glen Kacher is bullish on Japan’s SoftBank and it’s in large part because of its founder and CEO, Masayoshi Son. SoftBank is the largest venture capital firm in the world, with a total net asset value estimated as high as $190 billion. Son’s focus on long-term investments in tech companies helped him lead the $100 billion SoftBank Vision Fund, with stakes in Uber, Nvidia, Flipkart, WeWork, OneWeb and more. Then he bet on Jerry Yang in helping him create … Yahoo


Silicon Valley hedge fund founder Glen Kacher is bullish on Japan’s SoftBank and it’s in large part because of its founder and CEO, Masayoshi Son. SoftBank is the largest venture capital firm in the world, with a total net asset value estimated as high as $190 billion. Son’s focus on long-term investments in tech companies helped him lead the $100 billion SoftBank Vision Fund, with stakes in Uber, Nvidia, Flipkart, WeWork, OneWeb and more. Then he bet on Jerry Yang in helping him create … Yahoo
Softbank CEO Masayoshi Son is Warren Buffett of tech, says Silicon Valley hedge funder Glen Kacher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: michelle fox
Keywords: news, cnbc, companies, capital, masayoshi, tech, cnbcs, value, glen, kacher, valley, silicon, fortune, hedge, warren, bet, son, softbank, investment, fund


Softbank CEO Masayoshi Son is Warren Buffett of tech, says Silicon Valley hedge funder Glen Kacher

Silicon Valley hedge fund founder Glen Kacher is bullish on Japan’s SoftBank and it’s in large part because of its founder and CEO, Masayoshi Son.

In fact, he said the billionaire “is as close as we get to having a Warren Buffett of technology, ” said Kacher, chief investment officer of Light Street Capital, based in Palo Alto, California.

SoftBank is the largest venture capital firm in the world, with a total net asset value estimated as high as $190 billion. Son’s focus on long-term investments in tech companies helped him lead the $100 billion SoftBank Vision Fund, with stakes in Uber, Nvidia, Flipkart, WeWork, OneWeb and more.

“This is a guy who bet on Bill Gates early in his career, made his first fortune. Then he bet on Jerry Yang in helping him create … Yahoo Japan, ” Kacher said Monday on CNBC’s “Fast Money: Halftime Report. ”

“Then he bet on Steve Jobs and this thing called the iPhone before it existed. Then he doubled his fortune again, ” Kacher said. “And then he bet on [Alibaba co-founder] Jack Ma and tripled his fortune. This is the guy you can invest with. ”

Earlier this month, Son told CNBC’s David Faber that the conglomerate’s Vision Fund, founded in late 2016, has already invested about $70 billion of its money.

“Our return on the investment is very, very good,” Son said. “So some people may say, ‘Well, Masa, you paid too much.’ But still our company’s value is growing very quickly after our investment,” he said.

SoftBank is Light Street Capital’s largest position. Kacher called it “one of the biggest players in the market.”

“SoftBank is trading at roughly a 50% discount to the market value of its holdings,” he said.

He’s also not concerned that the company gets capital from Saudi Arabia’s sovereign wealth fund.

“They have tons of their own capital,” Kacher said, adding that there are “many other sovereign wealth funds” that would be happy to be a part of SoftBank and have Son, “one of the sharpest investors in the world, making investments for them.”

— CNBC’s Michael Sheetz and Fred Imbert contributed to this report.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: michelle fox
Keywords: news, cnbc, companies, capital, masayoshi, tech, cnbcs, value, glen, kacher, valley, silicon, fortune, hedge, warren, bet, son, softbank, investment, fund


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Payments firm Wirecard confirms profit target for 2019 after SoftBank deal

Wirecard confirmed its profit target for 2019 Thursday, a day after the German payments group announced an incoming $1 billion capital injection from SoftBank. The firm’s operating earnings before interest, tax, depreciation and amortization (EBITDA) rose almost 37% year-on-year to 560.5 million euros ($625.2 million) in 2018. Consolidated revenues for the year increased by over 35% to 2.02 billion euros. That’s slightly down from preliminary results posted in late January, which had put the com


Wirecard confirmed its profit target for 2019 Thursday, a day after the German payments group announced an incoming $1 billion capital injection from SoftBank. The firm’s operating earnings before interest, tax, depreciation and amortization (EBITDA) rose almost 37% year-on-year to 560.5 million euros ($625.2 million) in 2018. Consolidated revenues for the year increased by over 35% to 2.02 billion euros. That’s slightly down from preliminary results posted in late January, which had put the com
Payments firm Wirecard confirms profit target for 2019 after SoftBank deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: ryan browne, michaela handrek-rehle, bloomberg, getty images
Keywords: news, cnbc, companies, billion, firm, target, wirecard, profit, euros, revenues, rose, yearonyear, way, confirms, earnings, million, softbank, deal, 2019, ebitda, payments


Payments firm Wirecard confirms profit target for 2019 after SoftBank deal

Wirecard confirmed its profit target for 2019 Thursday, a day after the German payments group announced an incoming $1 billion capital injection from SoftBank.

The firm’s operating earnings before interest, tax, depreciation and amortization (EBITDA) rose almost 37% year-on-year to 560.5 million euros ($625.2 million) in 2018. Consolidated revenues for the year increased by over 35% to 2.02 billion euros.

That’s slightly down from preliminary results posted in late January, which had put the company’s earnings for the year at 568.3 million euros and revenues at 2.1 billion euros.

But Wirecard says it expects to post EBITDA of between 740 million euros and 800 million euros this year. Shares of the company rose 2% in morning trade.

“I think we’re very enthusiastic, we’re looking into a great year and I can also say we started into the year in a very robust and strong way,” Wirecard CEO Markus Braun told CNBC’s “Squawk Box Europe.


Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: ryan browne, michaela handrek-rehle, bloomberg, getty images
Keywords: news, cnbc, companies, billion, firm, target, wirecard, profit, euros, revenues, rose, yearonyear, way, confirms, earnings, million, softbank, deal, 2019, ebitda, payments


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Payments firm Wirecard confirms profit target for 2019 after SoftBank deal

Wirecard confirmed its profit target for 2019 Thursday, a day after the German payments group announced an incoming $1 billion capital injection from SoftBank. The firm’s operating earnings before interest, tax, depreciation and amortization (EBITDA) rose almost 37% year-on-year to 560.5 million euros ($625.2 million) in 2018. Consolidated revenues for the year increased by over 35% to 2.02 billion euros. That’s slightly down from preliminary results posted in late January, which had put the com


Wirecard confirmed its profit target for 2019 Thursday, a day after the German payments group announced an incoming $1 billion capital injection from SoftBank. The firm’s operating earnings before interest, tax, depreciation and amortization (EBITDA) rose almost 37% year-on-year to 560.5 million euros ($625.2 million) in 2018. Consolidated revenues for the year increased by over 35% to 2.02 billion euros. That’s slightly down from preliminary results posted in late January, which had put the com
Payments firm Wirecard confirms profit target for 2019 after SoftBank deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: ryan browne, michaela handrek-rehle, bloomberg, getty images
Keywords: news, cnbc, companies, rose, target, wirecard, payments, ebitda, earnings, euros, million, 2019, yearonyear, firm, way, softbank, profit, revenues, deal, billion, confirms


Payments firm Wirecard confirms profit target for 2019 after SoftBank deal

Wirecard confirmed its profit target for 2019 Thursday, a day after the German payments group announced an incoming $1 billion capital injection from SoftBank.

The firm’s operating earnings before interest, tax, depreciation and amortization (EBITDA) rose almost 37% year-on-year to 560.5 million euros ($625.2 million) in 2018. Consolidated revenues for the year increased by over 35% to 2.02 billion euros.

That’s slightly down from preliminary results posted in late January, which had put the company’s earnings for the year at 568.3 million euros and revenues at 2.1 billion euros.

But Wirecard says it expects to post EBITDA of between 740 million euros and 800 million euros this year. Shares of the company rose 2% in morning trade.

“I think we’re very enthusiastic, we’re looking into a great year and I can also say we started into the year in a very robust and strong way,” Wirecard CEO Markus Braun told CNBC’s “Squawk Box Europe.


Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: ryan browne, michaela handrek-rehle, bloomberg, getty images
Keywords: news, cnbc, companies, rose, target, wirecard, payments, ebitda, earnings, euros, million, 2019, yearonyear, firm, way, softbank, profit, revenues, deal, billion, confirms


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SoftBank to invest $1 billion for a 6% stake in payments firm Wirecard

SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments. Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, selling them exclusively to SoftBank. The notes will convert to an almost 6% stake in the firm. It’s part of a tie-up between the two on digital payments, according to Wirecard. SoftBank will help the firm — which ousted Commerzbank from Germ


SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments. Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, selling them exclusively to SoftBank. The notes will convert to an almost 6% stake in the firm. It’s part of a tie-up between the two on digital payments, according to Wirecard. SoftBank will help the firm — which ousted Commerzbank from Germ
SoftBank to invest $1 billion for a 6% stake in payments firm Wirecard Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ryan browne, alexander pohl, nurphoto, getty images
Keywords: news, cnbc, companies, softbank, wirecard, technologies, strengthening, billion, payments, tieup, partnership, digital, stake, expand, firm, invest, subject


SoftBank to invest $1 billion for a 6% stake in payments firm Wirecard

SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments.

Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, selling them exclusively to SoftBank.

The notes will convert to an almost 6% stake in the firm. The deal is still subject to the approval of Wirecard shareholders.

It’s part of a tie-up between the two on digital payments, according to Wirecard. SoftBank will help the firm — which ousted Commerzbank from Germany’s blue-chip DAX index last year — expand to Japan and South Korea.

“In SoftBank we have found a partner that shares both our passion for new technologies and drive to spearhead the latest innovations, all on a global scale,” Wirecard Chief Executive Markus Braun said in a statement.

“In addition, through this potential partnership, we will expand our reach and products to the East Asian markets, thereby further strengthening our position in Asia.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ryan browne, alexander pohl, nurphoto, getty images
Keywords: news, cnbc, companies, softbank, wirecard, technologies, strengthening, billion, payments, tieup, partnership, digital, stake, expand, firm, invest, subject


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Didi-SoftBank taxi-hailing joint venture expands to 13 cities across Japan

Didi Mobility Japan, a joint venture (JV) by China’s Didi Chuxing and SoftBank Corp, said it would expand its taxi-hailing service to 13 cities across Japan. It is expanding into Tokyo and Kyoto from Wednesday, with a further 10 locations to follow in the current financial year. Despite SoftBank’s oversized presence in the global ride-hailing industry, such services are effectively banned in Japan, leaving SoftBank portfolio companies like Didi and Uber limited to offering services that match ta


Didi Mobility Japan, a joint venture (JV) by China’s Didi Chuxing and SoftBank Corp, said it would expand its taxi-hailing service to 13 cities across Japan. It is expanding into Tokyo and Kyoto from Wednesday, with a further 10 locations to follow in the current financial year. Despite SoftBank’s oversized presence in the global ride-hailing industry, such services are effectively banned in Japan, leaving SoftBank portfolio companies like Didi and Uber limited to offering services that match ta
Didi-SoftBank taxi-hailing joint venture expands to 13 cities across Japan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, app, softbank, expands, taxihailing, services, didisoftbank, venture, japan, joint, cities, softbanks, didi, companies, service, portfolio, 13


Didi-SoftBank taxi-hailing joint venture expands to 13 cities across Japan

Didi Mobility Japan, a joint venture (JV) by China’s Didi Chuxing and SoftBank Corp, said it would expand its taxi-hailing service to 13 cities across Japan.

The app was first rolled out in September in Osaka, a popular destination for Chinese tourists, where it has tied up with 40 taxi firms in an increasingly crowded market for such apps that includes rivals backed by Sony and Toyota Motor.

It is expanding into Tokyo and Kyoto from Wednesday, with a further 10 locations to follow in the current financial year.

Despite SoftBank’s oversized presence in the global ride-hailing industry, such services are effectively banned in Japan, leaving SoftBank portfolio companies like Didi and Uber limited to offering services that match taxis with customers.

Didi is among a growing number of SoftBank Group Corp-backed companies launching JVs with SoftBank’s domestic telco.

Other startups doing so are shared co-working firm WeWork Cos and Indian hotel startup OYO.

As part of SoftBank’s efforts to drive synergies between its portfolio companies users will be able to access the taxi-hailing service through Yahoo Japan’s route-finding app and pay via PayPay, an app that uses tech from India’s Paytm.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, app, softbank, expands, taxihailing, services, didisoftbank, venture, japan, joint, cities, softbanks, didi, companies, service, portfolio, 13


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Wirecard shares jump on a $1 billion investment from SoftBank

SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments. Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, selling them exclusively to SoftBank. Shares of Wirecard jumped more than 9% on the news. It’s part of a tie-up between the two on digital payments, according to Wirecard. SoftBank will help the firm — which ousted Commerzbank from Germany’s


SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments. Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, selling them exclusively to SoftBank. Shares of Wirecard jumped more than 9% on the news. It’s part of a tie-up between the two on digital payments, according to Wirecard. SoftBank will help the firm — which ousted Commerzbank from Germany’s
Wirecard shares jump on a $1 billion investment from SoftBank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ryan browne, alexander pohl, nurphoto, getty images
Keywords: news, cnbc, companies, shares, jump, firm, expand, partnership, strengthening, wirecard, tieup, investment, billion, softbank, technologies, subject, digital


Wirecard shares jump on a $1 billion investment from SoftBank

SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments.

Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, selling them exclusively to SoftBank.

The notes will convert to an almost 6% stake in the firm. The deal is still subject to the approval of Wirecard shareholders.

Shares of Wirecard jumped more than 9% on the news.

It’s part of a tie-up between the two on digital payments, according to Wirecard. SoftBank will help the firm — which ousted Commerzbank from Germany’s blue-chip DAX index last year — expand to Japan and South Korea.

“In SoftBank we have found a partner that shares both our passion for new technologies and drive to spearhead the latest innovations, all on a global scale,” Wirecard Chief Executive Markus Braun said in a statement.

“In addition, through this potential partnership, we will expand our reach and products to the East Asian markets, thereby further strengthening our position in Asia.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ryan browne, alexander pohl, nurphoto, getty images
Keywords: news, cnbc, companies, shares, jump, firm, expand, partnership, strengthening, wirecard, tieup, investment, billion, softbank, technologies, subject, digital


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Stocks in Asia advance; BOJ chief flags concerns over trade protectionism

Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading. Over in South Kore


Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading. Over in South Kore
Stocks in Asia advance; BOJ chief flags concerns over trade protectionism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: eustance huang
Keywords: news, cnbc, companies, chief, concerns, flags, stocks, protectionism, shares, respectively, kumho, softbank, sectors, index, trade, jumped, rose, boj, advance, shenzhen, asia


Stocks in Asia advance; BOJ chief flags concerns over trade protectionism

Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook.

The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. The Topix index, however, slipped fractionally to end its trading day at 1,626.46.

Shares of Japanese telcos Softbank Corp and NTT Docomo jumped 3.05 percent and 3.56 percent, respectively, after the latter announced price cuts that were smaller than expected.

Shares in mainland China jumped on the day, with the Shanghai composite gaining 2.39 percent to about 3,253.60 and the Shenzhen component adding about 2.33 percent to around 10,287.64. The Shenzhen composite also advanced 2.095 percent to approximately 1,760.02.

Resilience in the property market would provide some cushion for China’s economy as sectors such as manufacturing and retail are hit by trade war tensions and weak consumer confidence, Reuters reported.

Average new home prices in China rose faster in March as compared to February, according to Reuters’ calculation of data released by the National Bureau of Statistics on Tuesday.

In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading.

Over in South Korea, the Kospi closed 0.26 percent higher at 2,248.63, as shares of Asiana Airlines surged 16.07 percent.

The top shareholder of Asiana Airlines, Kumho Industrial, said on Monday it would sell its entire stake in the debt-ridden carrier to keep it afloat, Reuters reported. That followed weeks of financial uncertainty after the carrier failed to win auditors’ sign-off on its 2018 financial statements, which triggered warnings of credit ratings downgrades, according to the Reuters report. For its part, Kumho Industrial saw its stock jump 6.62 percent.

In Australia, the ASX 200 gained 0.42 percent to close at 6,277.40, as most sectors advanced.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: eustance huang
Keywords: news, cnbc, companies, chief, concerns, flags, stocks, protectionism, shares, respectively, kumho, softbank, sectors, index, trade, jumped, rose, boj, advance, shenzhen, asia


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