Nu in talks to buy Monzo in £8B-£10B deal - report
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Nu Holdings (NU) is in talks to acquire U.K. digital bank Monzo in a deal valued at around £8B-£10B, people with knowledge of the matter told Bloomberg News.
The NYSE-listed Nubank does not currently have a presence in the U.K. or Europe, the report published on Friday noted.
Monzo has tapped Morgan Stanley (MS) and law firm Slaughter & May for the potential cash-and-stock deal, according to one of the sources, who asked not to be identified discussing confidential information.
The news was first reported by Sky News.
The U.K. digital lender is also considering other alternatives, including a new funding round, according to Sky News.
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