Cardpoint says Moneybox acquisition was costly

Cardpoint says Moneybox acquisition was costly
Tags: Bank / Credit Union, Distributors / ISO / IAD, Other, Public Companies, Retail / Off-Premises, Trends / Statistics
November 28, 2005

ShareCast: Despite optimistic forecasts, United Kingdom-based Cardpoint plunged on the London Stock Exchange after announcing that its acquisition of Moneybox has proven costly. (Read also, Cardpoint cashes in on fee payers.) Cardpoint has reduced the net assets of Moneybox by £5.9 million (U.S. $10 million), and the company is expected to reduce its number of Moneybox ATMs by about 1,000.