Shares in Wirecard fell to more than two-year lows on Friday after a Dubai-based business partner closed its doors even as the German payments company played down the impact on operations.
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder
The shares dropped after a tweet pointed to a May 11 liquidation notice in the newspaper Gulf Today by Al Alam Solution Provider FZ based in Dubai. A newspaper employee confirmed the publication of the notice in its print edition.A Wirecard spokeswoman said the company was aware of the company’s closure and said it would not affect its ability to handle transactions as it has reduced its reliance on third-party partners.
Wirecard has repeatedly denied allegations. Al Alam was one of the companies named by the FT as a third-party business partner.
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