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International Finance, SoftBank acquire 20% of UAE’s Mubasher subsidiary

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17 Dec 2021 01:12:41 GMT9
17 Dec 2021 01:12:41 GMT9

Arab News

RIYADH: The International Finance Corporation and Japan’s SoftBank Group have acquired 20 percent of fintech firm Global Trading Network.

The company is a subsidiary of the UAE’s financial services business Mubasher.

The value of the acquisition is yet to be announced, Asharq reported citing a source.

Global Trading Network plans to cover all markets and tools that are tradable electronically by the end of 2022, whether in terms of trading or investment, the source added.

The SoftBank Group is a Japanese multinational holding company, partnering with the Saudi private investment fund, which owns stakes in several technology, energy and financial companies.

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