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Wirecard Said to Add SoftBank Partner to Supervisory Board

  • Appointment comes about nine months after SoftBank deal
  • Embattled German payment provider has seen market value tank
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Embattled German electronic payment provider Wirecard AG is close to naming a partner at SoftBank Group Corp.’s investment arm as a new supervisory board member, continuing its personnel overhaul in an effort to regain shareholder confidence, according to people familiar with the matter.

Samuel Merksamer’s appointment could be announced as early as this week and is seen as a vote of confidence by SoftBank in a company whose market value has dropped about 14% this year, the people said, declining to be identified discussing information that isn’t public.