However the company has struggled recently, with 1Q revenues of $290.9M declining 8% y/y, and April transactions down 19% y/y. This was despite the fact that April saw significant growth in digital transaction with a 75% increase.
Tuesday, June 2, 2020
MoneyGram (MGI) : takeover talks with Western Union (WU)
According to a Bloomberg report, Western Union has already made a takeover offer for MoneyGram, but no decision has been made and Western Union could choose to proceed without a deal.
MGI is the second largest money transfer player with ~350K agents around the world, and a fast growing self-service (kiosk) and online presence which are 15% of money transfer revenues.
However the company has struggled recently, with 1Q revenues of $290.9M declining 8% y/y, and April transactions down 19% y/y. This was despite the fact that April saw significant growth in digital transaction with a 75% increase.
However the company has struggled recently, with 1Q revenues of $290.9M declining 8% y/y, and April transactions down 19% y/y. This was despite the fact that April saw significant growth in digital transaction with a 75% increase.
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