Updated: Two UAE firms' IPOs set to drive M&A deals in Europe's payment solutions industry - analyst | ZAWYA MENA Edition:
The potential listing of two United Arab Emirates payment firms on the London Stock Exchange could lead to them making consolidation moves into the European marketplace, an analyst has told Zawya.
Payments firm Finablr announced on Tuesday that it is considering an initial public offering on the London Stock Exchange, while an IPO of Network International took place on Wednesday, with the firm announcing that it had raised £555.4 million ($725.7 million) from investors.
“It is a bit of a shock for existing firms within that sector in Europe and it’ll drive more M&A deals,” Issam Kassabieh, a senior financial analyst at Menacorp told Zawya in a telephone interview.
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