Nu Holdings denied seeking an alliance with Monzo, Revolut's main competitor - Bloomberg Línea
Article excerpt
Bogotá - Nu Holdings (NU) ruled out that it is seeking a transaction with Monzo, a British digital bank that has established itself as Revolut's main competitor. The digital bank's clarification arose from press reports linking it to its British counterpart. "While we have great respect for Monzo, the company is not seeking a transaction with Monzo," Nu said in a note released this Wednesday to the U.S. Securities and Exchange Commission (SEC).The company explained that, although it does not comment on specific opportunities as a matter of usual practice, it decided to make this clarification due to the extent of recent media speculation.Nu noted that, in the normal course of its business, it periodically evaluates opportunities that may support its growth and long-term objectives. These may include alliances, investments, and acquisitions.The company added that it remains focused on its main strategic priorities: deepening its position in Brazil, scaling its businesses in Mexico and Colombia, and expanding its presence in the United States and other markets through Nu Global.Regarding capital allocation, Nu assured that its decision framework has not changed. According to the company, investments are evaluated based on strategic fit, expected returns versus cost of capital, long-term value creation per share, and the administrative and financial resources needed to execute...
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Revolut is advancing its expansion process in Latin America with its entry into Colombia and Argentina and awaiting the corresponding permits to do so in Peru.
