Brazil's Nubank says it is not pursuing deal with Monzo

By Reuters News

SAO PAULO, Sept 30 (Reuters) - Brazilian digital lender Nubank said on Wednesday it is not pursuing a transaction with Monzo, after media reports had said Nubank was in early-stage talks to acquire the British digital bank.

  • In a securities filing, Nubank said it regularly evaluates opportunities that could support growth and long-term goals, including investments and acquisitions

  • Nubank, which is listed as Nu Holdings NU.N, said its capital allocation framework is unchanged

  • Nubank said it is focused on its strategic priorities: "deepening its position in Brazil, scaling its businesses in Mexico and Colombia, and building its presence in the United States and around the world through Nu Global"

  • Shares in Nu Holdings were up nearly 7% in trading in New York, after falling earlier this week on the media reports

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.