Monitise sinks after Visa plans to assess investment
Shares in mobile money group Monitise were taking a hit on Thursday after Visa revealed that it was undertaking an assessment of its stake in the company.
Monitise
3.09p
16:54 31/08/17
Visa said the move was consistent with its "investment practice to seed emerging players and, over time, taper that influence as the partner company grows".
Montise founder Alastair Lukes said Visa, which has a 5.5% stake, has been "a huge support" in helping it to develop and grow.
The group reiterated its guidance for both the current financial year and its longer-term guidance for 2018.
Monitise also announced the launch of its BBM Money on Android, iOS and Android platforms and said it will be available in Indonesia from early 2015.
Its share price had dropped 19.41% to 34.25p by 12:27.