TOKYO — Japan’s Mitsubishi Corp. stated Friday that it’s going to not directly take a stake in main Philippine fintech firm Global Fintech Innovations, higher often known as Mynt, because it appears to be like to bolster digital finance operations within the nation.
Mitsubishi plans to amass 50% of AC Ventures Holding, a unit of Philippine conglomerate Ayala Group and a shareholder in Mynt, by the tip of this fiscal 12 months for an estimated 50 billion yen ($334 million). The deal would not directly give Mitsubishi a 6.5% stake in Mynt.