Brazil's Nubank says it is not pursuing deal with Monzo
NU•Nubank said it is not pursuing a transaction with Monzo after media reports of early-stage acquisition talks. Nu Holdings shares rose nearly 7% in New York trading.
1. Nubank rules out transaction
In a securities filing, Nubank said it is not pursuing a transaction with Monzo. The company said it regularly evaluates opportunities, including investments and acquisitions, but its capital allocation framework is unchanged.
2. Strategic priorities
Nubank said it is focused on 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 rose nearly 7% in New York trading after falling earlier in the week on the media reports.
