ECONOMY

PMorgan Chase eyes stake in Viva Wallet

PMorgan Chase eyes stake in Viva Wallet

US bank JPMorgan Chase is reported to be considering the acquisition of a 47% stake in Greek payments company Viva Wallet.

Cloud-based Viva Wallet provides card acceptance services through its POS application, add-on Google Play devices and advanced payment systems at online stores. It operates in 23 countries across Europe.

The value of the deal is estimated at 700 million euros and the two sides are expected to sign the deal this week following months of negotiations.

The Greek prime minister’s chief economic adviser, Alexis Patelis, wrote on Twitter on Sunday that two significant acquisitions by US companies would take place this week, dubbing these “a vote of confidence in Greece and a forerunner of investments.” 

[Reuters]