SoftBank, PayPay in Talks to Invest in Seven & I
The talks could deepen PayPay’s reach into convenience-store spending and add capital for Seven & i as it restructures after a rejected takeover bid.
- On Friday, SoftBank Corp and mobile payments operator PayPay entered preliminary investment discussions with Seven & i Holdings, with Bloomberg News reporting the total could reach 300 billion yen .
- Seven & i has faced years of investor pressure regarding lackluster returns, previously fending off a takeover approach from Canada's Alimentation Couche-Tard while restructuring assets.
- SoftBank aims to use in-house artificial intelligence to improve store management and deploy autonomous robots to reduce manpower, while Sumitomo Mitsui Card may also join the investment.
- Convenience stores generate enormous transaction volumes providing the data and habit loops a payments company seeks; tying PayPay more tightly to 7-Eleven's tills would grant the firm both scale and stickiness.
- Discussions remain preliminary with no confirmed terms, and SoftBank, Seven & i, PayPay, and Sumitomo Mitsui Financial Group all declined to comment on the substance of the reported discussions.
15 Articles
15 Articles
(Tokyo=Yonhap News) Correspondent Lee Do-yeon = Japanese telecommunications company SoftBank and its mobile payment subsidiary PayPay, among others, [attack] Japan's Seven & Co..., the holding company of convenience store chain '7-Eleven'
SoftBank, PayPay mulling stake in convenience store operator Seven & i
SoftBank Corp. and PayPay Corp. are considering acquiring a stake worth several hundred billion yen in Japanese convenience store operator Seven & i Holdings Co., sources familiar with the matter said Friday.
SoftBank and PayPay Circle Seven & i in a Deal That Could Reshape Japan’s Stores and Payments
Tokyo’s corporate corridors buzzed Friday with word of a potential alliance that joins one of the world’s most aggressive technology investors with Japan’s iconic convenience store empire. SoftBank Corp. and its payments powerhouse PayPay are in talks to buy a stake in Seven & i Holdings, the parent of 7-Eleven. The discussions, first reported by Bloomberg, point to an investment totaling several hundred billion yen. Later updates from Nikkei As…
SoftBank, PayPay to invest in 7-Eleven parent company Seven & i
SoftBank and mobile payments operator PayPay are in the talks to invest in Seven & i, the retail giant behind 7-Eleven, according to Bloomberg. The report mentioned the investment will likely be worth several hundred billion yen and Sumitomo Mitsui Card, a unit of Sumitomo Mitsui Financial Group, might also take a stake. This deal would unite two of Japan’s major payment service providers with the country’s No. 1 convenience-store network. This …
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
