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Henry Khederian

Jumia (JMIA) Stock Surges On Axian Takeover Buzz: What Investors Need To Know

Jumia JMIA Technologies

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Jumia Technologies AG – ADR (NYSE:JMIA) shares are trading higher Tuesday afternoon as the company becomes the subject of takeover interest from Axian Telecom, per a Bloomberg report.

What To Know: Axian Telecom recently raised $600 million in financing, according to sources who spoke with Bloomberg. These funds are intended to refinance existing debt and strategically position the company for a possible acquisition of Jumia. Deliberations are reportedly ongoing and private, with no definitive agreement reached, per Bloomberg.

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