CBA sells stake in Visa for $439m

Stocks and Financial Services Press Releases Monday December 19, 2016 16:52
The Asian Banker--20 Dec--Asian Banker
Commonwealth Bank has sold its remaining minority shareholding in credit card giant Visa for $439 million, gaining an after tax profit of $278 million.
Australia's biggest bank has also written down some software assets by $275 million after tax as part of a review due to what it described as "the rapidly changing technology environment".
CBA said on Monday that both items will be reported as one-offs in the first-half ending December 31, 2016.
--www.theasianbanker.com (Dec 19, 2016)--

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