"Network International" Receives Preliminary Acquisition Offers

Network International, a payment services company, confirmed today, Thursday, that it has received a preliminary acquisition offer from a consortium comprising CVC Capital Partners and Francisco Partners Funds, leading to a 25% increase in its shares. The company noted that "discussions with the consortium are ongoing." Insider sources told Reuters that "the company is in talks with advisors to explore options to boost demand for its shares." Last year, it announced a share buyback program worth $100 million in an effort to return value to shareholders. It is worth mentioning that the company is the largest payment processor in the Middle East and Africa, with a market value of $1.62 billion at the last close.