Clifford Chance

Clifford Chance advises Santander on its strategic investment in Monitise PLC

International law firm Clifford Chance is advising Santander with its strategic investment in world leading mobile money business, Monitise PLC.

Santander has subscribed for 5.5% of the existing issued share capital of Monitise, alongside other investors, in an aggregate share issue by Monitise of 8.2% of its existing share capital.  In connection with its subscription, Santander and Telefonica (another strategic investor participating in the transaction) will have the right to jointly nominate a single Non-Executive Director to be appointed by the Monitise Board.

Santander and Monitise are also in discussions to expand their existing commercial relationship to leverage Santander's expertise and scale together with Monitise's technology to build new Mobile Money capabilities for Santander.  

Kathy Honeywood (partner) and Katherine Moir (senior associate) supported the Santander team on the transaction.