In MasterCard IPO, A Charity's Role Is Questioned
James Kelleher reports for Reuters on some questions being raised about the MasterCard Foundation that is being setup as part of the planned initial public offering upcoming for MasterCard.
Some analysts are dubious. They believe the charity -- and special shares the existing owners are awarding themselves as part of the IPO -- suggest MasterCard's offering isn't the transformative event the company needs to mollify critics or quell investor worry about the company's ability to compete with arch-rival credit card association Visa."It just makes an increasing difficult case for investors to buy MasterCard," said Gwenn Bezard, research director at the consulting group Aite Group.
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