NOnly one day after Wirecard AG filed for insolvency, there are first prospective customers who want to take over parts of the Munich payment processor. According to information from the F.A.Z. Private investors and private equity funds but also competitor Worldline.
The French payment service provider had already bought its competitor Ingenico in France for almost eight billion euros earlier this year. The merger has made the two French companies the largest provider in Europe.
Because of their own business, potential investors naturally have different interests. Business with European customers appears to be of value within the Wirecard Group – provided they do not bounce off.
The balance sheet scandal has, at any rate, dramatically shaken confidence in Wirecard services: Some customers, including the major credit card providers Visa and Mastercard, are already rethinking their business relationships with Munich.
Insolvency administrator appointed
The Wirecard Bank, in turn, in which thousands of private investors recently held deposits of 1.7 billion euros, is under the special management of the financial regulator Bafin. The authority wants to ensure that the bank does not slip into the bankruptcy of the parent company.
The lawyer Michael Jaffé has meanwhile been appointed as the temporary insolvency administrator of the Wirecard Group. Before Jaffé can even negotiate with those interested in Wirecard, he has to get an overview of the exact volume of this bankruptcy.
According to the previous board of directors headed by interim chief James Freis, there is a balance gap of a good 1.9 billion euros. In addition, Wirecard has bonds of around EUR 500 million and a convertible bond of EUR 900 million in circulation.
In addition, there are likely to be claims for compensation from shareholders who have suffered high losses as a result of the price drop in the past few days and will sue the company for damages. The Wirecard board had also justified the bankruptcy by not seeing the continued viability of the company.