(New: According to the report, Softbank may be before jumping off, course updated)
FRANKFURT (dpa-AFX) – Wirecard shares (Wirecard) continued their price erratic behavior that had been common for days with a significant slump on Thursday. The papers of the payment service provider, which is struggling to survive after a balance sheet scandal, dropped by up to 36 percent in the course of trading and were last around 34 percent lower at EUR 3.15. On Wednesday, the shares listed in the Dax (DAX 30) lost around 16 percent after the price had more than quadrupled at the closing price on Friday in the previous two days.
The retail giant Aldi Süd has now significantly restricted its business with the group and is now relying on a competitor. “Since July 1, credit card payments at Aldi Süd have been handled by Payone GmbH. Since then, cooperation with Wirecard Bank AG has been limited to business with the Aldi gift card,” said Aldi Süd. That didn’t bring any changes for the customers. The industry portal “Finanz-Szene” had previously reported on this. Payone is a joint venture between the German savings banks and the French Ingenico group (Ingenico).
The Japanese technology group Softbank could also withdraw at Wirecard. According to the “Wall Street Journal”, citing insiders, Softbank plans to terminate a five-year partnership. The Japanese had acquired a convertible bond with the payment service provider over a year ago. The cooperation should open doors for the Aschheimers in the many investments of the tech investor. In addition, the Japanese should help with the market entry in Japan and South Korea.
Wirecard is deeply involved in a scandal involving alleged air bookings amounting to 1.9 billion euros. A preliminary bankruptcy procedure is also currently ongoing. It looks like the company could be broken down into its individual parts and sold. What could then get stuck with the shareholders leaves room for ample speculation, as the wild price swings show. After the scandal came to light in June, the papers had lost up to around 99 percent of their value./edh/mis/tav/jha/ck/mis
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