Visa out bids Mastercard for cross-border payments firm

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Spanish broadband provider Adamo has secured commercial bank financing to accelerate the expansion of its Fibre to the Home service.

• Uzbekistan is set to establish a $500m development bank

• Zimbabwean gold miner RioZim has suspended production at its three mines for the second time in four months because the central bank had failed to pay it in US dollars for part of its gold deliveries.

• The bidding war has intensified as Visa wants to see off arch-rival Mastercard with a £247 million offer for UK-based cross-border payments firm Earthport.Mastercard last month wanted to beat Visa with a £233 million offer

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