Fiserv shares rise on potential debit network sale report

Investing.com -- Fiserv Inc shares climbed 4.8% after a report indicated the company is exploring a sale of its debit card network to major U.S. banks.

The payments firm has held discussions with U.S. banks including JPMorgan Chase & Co and Bank of America Corp to sell its payments infrastructure business that processes debit card transactions, according to a Reuters report published Monday.

Wells Fargo & Co and PNC Financial Services Group Inc have also participated in discussions in recent months, the report said.

The potential sale is part of a turnaround plan aimed at improving performance following a difficult year that saw a significant decline in market value and substantial fallout from leadership changes.

No deal is certain and the discussions could still fall apart, the report said.

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