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Visa explores options for stake in UK's Monitise

Reuters - UK Focus

Sept 18 (Reuters) - Visa Inc (Xetra: A0NC7B - news) said it was exploring options for its investment in Monitise Plc (Other OTC: MONIF - news) , a British mobile banking technology company, sending Monitise's shares down 26 percent.

Visa currently has a 5.5 percent stake in Monitise.

The company, which first invested in Monitise in 2009, said it would reduce its dependence on external mobile development resources.

Visa said it appointed J.P. Morgan Securities Plc to assist in the assessment. (Reporting by Noor Zainab Hussain in Bangalore; Editing by Gopakumar Warrier)