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Mastercard to invest $100 million in Airtel Africa's mobile money unit

FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration

(Reuters) - Mastercard Inc will invest $100 million in Airtel Africa’s mobile money operations valuing the business at $2.65 billion, the London-listed company said on Thursday.

Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25% stake in the unit, the company said.

Reporting by Yadarisa Shabong in Bengaluru, Editing by Sherry Jacob-Phillips

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