Santander picks up Wirecard Europe assets for €100M
November 18, 2020
Santander has acquired the core European business of collapsed German payments provider Wirecard. The Spanish banking group is paying €100 million for the business, which comprises the European payments platform and technology assets, according to the Financial Times. Wirecard was declared insolvent in June after a $2 billion accountancy scandal uncovered by its auditor, EY, led to the arrest of CEO Markus Braun.