The Japanese conglomerate SoftBank is considering taking a 5 percent stake in German fintech company Wirecard. Initiators reported this to the Bloomberg news agency. According to the sources, the necessary advisors are working on the deal behind the scenes.

Such a token of confidence would suit Wirecard. Lately, the company has been suffering from an alleged fraud case at an office in Singapore, which put a lot of pressure on the stock. The German stock market watchdog BaFin even for some time banned the possibility of taking short positions on Wirecard. By going ‘short’, investors speculate on a fall in prices.

The authorities in Singapore are still investigating the case. In the meantime, Wirecard has sued the Financial Times for damage caused by “incorrect reporting”. The British newspaper was the first to come up with the news about the alleged fraud.

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