Wirecard administrator sells off Asia Pacific assets
Wirecard was placed into insolvency in June last year after an independent audit into the company found a €1.9 billion (Dh8.2bn) hole in its accounts, leading to the arrest of many of its key executives. The company had previously been lauded as a European FinTech star, with its valuation peaking at €24bn in August 2018. The insolvency administrator has since managed the sale of a number of its business units, with Spanish banking giant Santander acquiring the company’s core European business in January. This allowed about 500 Wirecard staff to transfer to Santander’s Getnet business....
Source: thenationalnews.com