JPMorgan Mulling Stake in Greek Firm Viva Wallet -Media

JPMorgan Considers 47% Stake in Greek Firm Viva Wallet

ATHENS (Reuters) – U.S. bank JPMorgan Chase is considering acquiring a 47% stake in Greek payments company Viva Wallet, Greek media reported on Monday without identifying their sources.

Cloud-based Viva Wallet provides card acceptance services through its POS application, add-on Google play devices and advanced payment systems in online stores. It operates in 23 countries across Europe.

According to the ot.gr news website, the value of the deal is estimated at 700 million euros ($792 million).

The Kathimerini newspaper reported that the two sides are expected to sign the deal on Monday following months of negotiation.

Viva Wallet and JPMorgan were not immediately available for comment.

The Greek prime minister’s chief economic adviser, Alexis Patelis, said on Twitter on Sunday that two significant acquisitions by U.S. companies would take place this week, dubbing these “a vote of confidence in Greece and a forerunner of investments”.

($1 = 0.8840 euros)

(Reporting by Angeliki Koutantou and Renee Maltezou; editing by Jason Neely)