By Pierre Bertrand

Shares in Worldline rose Monday after French bank Credit Agricole said it had bought a minority stake in the payments company.

At 0823 GMT Worldline shares were trading 5.2% higher to EUR13.80.

The bank bought a 7% minority stake in the French online payments provider, it said Monday.

The acquisition followed an agreement made in July to create a joint venture in the merchant payment services sector.

"The preparatory work for the creation of the announced joint-venture between Credit Agricole Group and Worldline is progressing according to the announced schedule, with operational launch planned in 2024, as soon as the customary regulatory approvals have been obtained," the bank said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

January 22, 2024 03:45 ET (08:45 GMT)

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