takeover / partner, page-81

https://www.********.au/2021/07/14/humm-asxhum-share-price-dips-despite-deal-with-westpac-nz/

The Humm Group Ltd (ASX: HUM) share price is having a subdued day as it announces a partnership with Westpac Banking Corp’s (ASX: WBC) New Zealand division.

At the time of writing, shares in the buy now, pay later (BNPL) provider are trading for 99.5 cents – down 1.49%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.39% higher.

Let’s take a closer look at today’s news.

The Humm share price is falling

In a statement to the ASX, Humm Group declared it has “entered into a joint venture agreement with Red Bird Ventures Limited” – a subsidiary of Westpac NZ – to launch its BNPL product, bundll, to the New Zealand market.

Bundll is a tap and go service on a customer’s phone. Using the Mastercard Inc (NYSE: MA) network, it allows the user to use BNPL anywhere and for any amount. Bundll will be available to all New Zealanders, but Westpac NZ customers will receive “preferential” benefits.

Red Bird has the option to buy equity in bundll New Zealand as part of the deal.

In a note Westpac or Red Bird Ventures has a 2 month window to decide to buy a 49% stake in bundll NZ, which will bring it close to the 27th of October announcement.

The question I ask is "where else in the world does Westpac operate"? I hear that Westpac is not happy with its arrangement with Afterpay, and I see that Zip had NAB do their recent capital raising.

So, where does it leave Westpac? A nice little arranged marriage between our little birdies?

Does Westpac have banking facilities in ASIA? Why did the AFR mention India in an article and RJ knocked it on the head when she was questioned about the move into India? A mistake? a leak perhaps? too soon?
Also, $$$ how much are we looking at to sell 49% of bundll in NZ?

We shall find out on the 27th of October