https://www.oann.com/wirecards-european-business-sold-to-santander-insolvency-administrator/?utm_source=rss&utm_medium=rss&utm_campaign=wirecards-european-business-sold-to-santander-insolvency-administrator

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany, September 22, 2020. REUTERS/Michael Dalder/File Photo

November 16, 2020

FRANKFURT (Reuters) – Wirecard’s <WDIG.DE> insolvency administrator on Monday said a sale of the payment system provider’s European technology platform to Spain’s Banco Santander <SAN.MC> has been agreed.

Santander will take on employees in Wirecard’s Acquiring & Issuing arm as well as the majority of the employees working in Wirecard Bank AG, insolvency administrator Michael Jaffe said in a statement. The transaction is expected to close by the end of the year, pending regulatory approvals, Jaffe said.

(Reporting by Edward Taylor; Editing by Leslie Adler)

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