Mitsubishi buys stake in top Philippine fintech platform

seekingalpha10-18

Mitsubishi (OTCPK:MSBHF) will buy a 50% stake in Ayala Corp.’s (OTCPK:AYALY) AC Ventures Holdings for a minimum of P18.4 billion (~$319 million). AC Ventures owns ~13% of Globe Fintech Innovations, (...

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AC Ventures owns ~13% of Globe Fintech Innovations, (...</p>\n\n<a href=\"https://seekingalpha.com/news/4173485-mitsubishi-buys-stake-in-top-philippine-fintech-platform\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSBHF","symbol_name":"Mitsubishi Corp.","start_time":0,"source_url":"https://seekingalpha.com/news/4173485-mitsubishi-buys-stake-in-top-philippine-fintech-platform","article_id":"2476479480","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/522587246/image_522587246.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476479480","pubTimestamp":1729237580,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Mitsubishi (OTCPK:MSBHF) will buy a 50% stake in Ayala Corp.’s (OTCPK:AYALY) AC Ventures Holdings for a minimum of P18.4 billion (~$319 million). AC Ventures owns ~13% of Globe Fintech Innovations, (M","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MSBHF":"Mitsubishi Corp.","BK4104":"贸易公司与经销商"},"translate_title":"三菱收购菲律宾顶级金融科技平台股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MSBHF":0.9},"content_text":"Mitsubishi (OTCPK:MSBHF) will buy a 50% stake in Ayala Corp.’s (OTCPK:AYALY) AC Ventures Holdings for a minimum of P18.4 billion (~$319 million). AC Ventures owns ~13% of Globe Fintech Innovations, (Mynt). Mynt has two fintech companies: G-Xchange- the mobile wallet operator of GCash, and Fuse Lending, a tech-based micro-lender.  This acquisition effectively grants Mitsubishi (OTCPK:MSBHF) a 6.5% stake Mynt, the operator of Philippines' biggest fintech platform GCash. The partnership aims to enhance Mynt's growth both domestically and internationally, particularly in areas like cloud-based payments and new credit solutions. The deal was disclosed by Ayala (OTCPK:AYALY) on October 18, 2024, and is subject to regulatory approvals. The collaboration is seen as a renewal of a long-standing partnership that dates back to 1974, which has previously included projects across various sectors such as renewable energy and auto dealerships. “We believe Mitsubishi can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users. It’s all about serving better the many Filipinos that depend on GCash and Fuse, and for making a wider variety of financial and other products available to as many Filipinos as possible,” said Cezar Consing, President and CEO of Ayala (OTCPK:AYALY).","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2476479480"}