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The Wirecard mess gets worse, the question is can it survive?
- Monday | 22nd June, 2020
Shares in Wirecard, a one-time German financial technology star, fell 39% on Monday, bringing cumulative losses since Thursday to 85%. Neil Campling at Mirabaud, the only analyst to have had a price target of zero for Wirecard, sees no way back. “They have no business if Visa and MasterCard revoke their licenses, which I expect to happen,” Campling told Reuters. “We view Adyen as very well-positioned to capture existing Wirecard customers that could seek to leave Wirecard,” said Julian Serafini at Jefferies, adding Adyen has long preferred organic growth to acquisitions. France’s Worldline, meanwhile, would also likely find it easier to scoop up Wirecard customers in Europe, and would have little interest in Wirecard’s Asian interests, analysts said.
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