OneConnect's exclusivity period expires under its MOU for stake in VZOOM CREDIT TECHNOLOGY.
M2 EQUITYBITES-November 26, 2021-OneConnect's exclusivity period expires under its MOU for stake in VZOOM CREDIT TECHNOLOGY
(C)2021 M2 COMMUNICATIONS http://www.m2.com
OneConnect Financial Technology Co Ltd (NYSE:OCFT) revealed on Thursday that the exclusivity period under the Memorandum of Understanding (MOU) to acquire a majority equity stake in SHENZHEN VZOOM CREDIT TECHNOLOGY Co Ltd, declared on 25 August 2021, has expired.
After thorough analysis of overall circumstances and due consideration OneConnect decided not to proceed with the acquisition. Financial terms of the acquisition were not discussed.
OneConnect is a technology-as-a-service platform for financial institutions. It integrates financial services expertise with technology to provide applications and business...
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