Finance

SoftBank’s $1 billion Wirecard investment under scrutiny

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CEO of Softbank Group Masayoshi Son attending a news conference in Tokyo on February 8, 2017.

Alessandro Di Ciommo | NurPhoto | Getty Images

SoftBank has come under renewed scrutiny about its investment strategy — but this time it’s about one of the Japanese tech conglomerate’s lesser-known bets.

Last year, the company made a 900 million euros ($1 billion) investment in Wirecard, as part of a broader tie-up between the two on digital payments. But that deal has raised eyebrows now due to a deepening accounting crisis at the German payments processor.

The Munich-based company is fighting for its survival after revealing that 1.9 billion euros of missing cash — roughly a quarter of its…



Source cnbc.com

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