The online payments is booming as customers turn to the internet, contactless cards and mobile phones to pay for goods AlamyTwo private equity groups have tabled a £2.86 billion bid to buy the online payment processing group Paysafe amid a wave of consolidation gripping the sector. In a surprise statement to the stock market today, Paysafe said that it had received a “preliminary conditional proposal” from funds managed by Blackstone and CVC Capital Partners for a cash offer of 590p a share. The group said that it had previously rejected a series of initial approaches by the private equity investors in early May, but had now granted them access to its books for due diligence based on the potential for an offer at 590p. The potential bid marks a premium of about 34 per cent to Paysafe’s volume-weighted average share price over the six months…

Source: The Times July 21, 2017 07:52 UTC