German payments company Wirecard received a $1 billion investment pledge from Japanese technology giant SoftBank Group Inc., a vote of confidence in a company struggling to get past accounting issues in its Asian arm and investor skepticism of its financial reporting and business model. Softbank plans to invest €900 million ($1 billion) in a five-year convertible bond. The Japanese conglomerate has an option to turn that into Wirecard shares at about €130.00, which would give it a stake of 5.6% in one of Europe’s most valuable...

Source: Wall Street Journal April 24, 2019 07:31 UTC