The ambition is to create Europe’s best and most comprehensive digital wallet. Serving 11 million users and over 330,000 shops and web shops, the company could be one of the largest bank-owned mobile payment providers in Europe, as the press release says.
he parties wish to join forces to further strengthen product development and innovation. In addition, the parties plan to invest heavily in ecommerce and to ensure users access to mobile cross-border payments.
The merger is expected to result in a one-off gain for Danske Bank of approximately DKK 400-500 million. The merger is conditional on approval by the relevant authorities, including the European Commission. Final approval is expected in the second half of 2021 or in early 2022.
The banks behind Vipps will own 65% of the new parent company, Vipps AS, Danske Bank will own 25% and the OP Financial Group will own 10%.
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