STUTTGART (dpa-AFX) – “Stuttgarter Nachrichten” on Wirecard scandal
The climb was breathtaking. In less than two decades, a small, not very successful information service provider became a global payment service company whose shares are listed in the German stock index (Dax), the top league of the German stock exchange elite. Even a merger or at least close cooperation with Deutsche Bank was apparently being considered. Wirecard, it seemed, was a success story only known from Silicon Valley. The crash is all the more violent – not only for the company, its managers and shareholders, but for the German financial industry and the location as a whole./al/DP/mis
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