Metavante Spin Off Rumors
The winds of change are really blowing in the US payments business. Tonight, Dennis K. Berman reports for the Wall St. Journal on rumors of a plan to spin Metavante out of Marshall & Isley Corp. into a new public company. According to Berman, Warburg Pincus would take a minority position in the new company. Former Bank of America CEO David Coulter, also a member of the board of directors of First Data Corp, is reported to be helping Warburg Pincus with its financial technology investment efforts.
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