Wirecard AG : Much ado about not very much - Buy recommendation reiterated
>No major irregularities according to the law firm Rajah & Tann - Wirecard yesterday issued a press statement summarising the findings of the report by the law firm Rajah & Tann (begun in May 2018) around the allegations reported in the FT concerning specific transactions and governance issues over Wirecard subsidiaries in Asia. The report did not show any irregularities with a major impact on Wirecard’s financial reports. Rajah & Tann also made a number of additional...Wirecard is engaged in the business of global payment processing, risk management and payment acceptance, as well as card issuing. Co. operates in three segments: Payment Processing & Risk Management, which comprises of products and service for the acceptance or implementation and the downstream processing of electronic payments and the associated processes; Acquiring & Issuing, which includes acceptance (acquiring) and issuing credit cards and prepaid cards, as well as account and payment transaction services; and Call Center & Communication Services, which comprises all of the products and services that address the call centre assisted support of corporate and private customers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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