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Contrary to expectations, the German group Fintech Group AG will not become a financial services partner of Österreichische Post AG (Post). Post and Fintech Group AG announced in their press releases this morning that the envisaged joint venture had collapsed.
"We received the signal from the regulator not to receive the Austrian banking license until 2020",
Jörg (Peters), spokesman for the Fintech Group, tells me. Jörg is visibly surprised by this judgment of the Autorité des marchés financiers.
Last Thursday, he had a good time with the Post Harald (Hagenauer) Investor Relations Manager at the Vienna Punch Stock Exchange (here link). However, the ambitious schedule of the joint venture can not be met, according to press spokesman Michael (Homola).
It's a real surprise for me! After leaving the Bawag PSK (I told you), George (Pölzl), deputy general manager, solemnly introduced the new partner in September. Now you need a plan B. The conditions are very difficult.
What is 1,225 million Finch shares already purchased through the mail is still uncertain, Michael tells me. Until the moment the new partner must also be found.
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