Deals
FIS Slides on $17.6 Billion Writedown, Merchant-Unit Spinoff
- Worldpay acquisition was a ‘huge failure,’ Mizuho’s Dolev says
- Company bought payment-processor Worldpay for $41 billion
This article is for subscribers only.
Fidelity National Information Services Inc. plummeted after it booked a $17.6 billion writedown on the payment-processing business it bought for $41 billion just four years ago, a unit it now plans to dump.
The fintech said it will pursue the tax-free spinoff in the next year, according to a statement Monday. The impairment charge resulted in a $17.4 billion loss in the fourth quarter, the firm said in a separate statement.