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25 Jan 2021 | 07:41

Network International finds no wrongdoing at DPO

(Sharecast News) - Network International said it had found no evidence of wrongdoing by DPO, the African payments company it is buying for $288m, and that DPO's links to a former Wirecard executive are "regrettable" but limited. The FTSE 250 company published a review in response to a report issued by short-seller ShadowFall in December that criticised the deal and DPO's links to Wirecard, the collapsed German online payments group.

Network International said DPO was a highly attractive asset and that it was confident in its own culture and financial discipline. It compiled the report with top City law firm Freshfields.

Ron Kalifa, Network International's chairman, said: "While there are limited associations between DPO and some individuals that are regrettable, the board is satisfied there is no evidence of wrongdoing by the DPO Group."

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