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Short-sellers in cross-hairs as payments group fights back
Thursday 22 Dec 2016 Author: William Cain

Payment services provider Paysafe (PAYS) has launched a share buyback programme of up to £100m to scare off short-sellers which crashed the company’s share price.

A commentary posted online which mainly recycled old news to raise questions about Paysafe’s business model saw the mid cap stock’s share price plunge by as much as a quarter in mid December.

Now Paysafe’s management team and board say the company’s value on the stock market undervalues its future potential and that it would continue to buy back shares ‘well in excess of the current share price’. Paysafe trades at 360p. (WC)

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