Seeking Alpha

MissionIR's  Instablog

MissionIR
Send Message
We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices. It is our unwavering commitment to connect the investment community with companies that have great potential and a strong dedication to... More
My company:
MissionIR
My blog:
MissionIR Blog
  • Calpian, Inc. (CLPI) Approved For Majority Ownership Of Money-on-Mobile 0 comments
    Dec 3, 2013 2:39 PM | about stocks: CLPI

    Calpian, a provider of mobile payments emerging-market operations, reports that it has been approved by the Finance Ministry of the Government of India through the Foreign Investment Promotion Board (FIPB) to own up to 74 percent of My Mobile Payments Ltd., which currently operates as Money-on-Mobile (NYSEARCA:MOM) in India.

    The ownership provides another stepping stone for Calpian to further saturate the mobile-payment solutions market in India.

    "The FIPB approval allows Calpian, Inc. to own a majority of Money-on-Mobile and eventually consolidate our financials, resulting in a clear picture to the market of Money-on-Mobile's growth in India," Calpian CEO Harold Montgomery stated in the news release. "We are excited about what the future holds for Calpian, as we are only just beginning to penetrate the broader market in India. The Money-on-Mobile team has executed their business plan brilliantly which has resulted in over 300 percent growth in the 20 months since we made our first investment there."

    Money-on-Mobile Managing Director Shashank Joshi echoed Montgomery's sentiment.

    "We are encouraged that the FIPB has approved this expansion of the Calpian/MOM partnership which has been so very successful to date. We look forward to the continuation of our growth through this investment partnership," said Joshi.

    For more information, visit calpian.com

    MissionIR provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.missionir.com

    Stocks: CLPI
Back To MissionIR's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.