March 21, 2018 / 11:10 AM / a year ago

SIX on track for mid-year sale of cards business - CEO

ZURICH, March 21 (Reuters) - Swiss stock exchange operator SIX Group is set to sell a majority stake in its card payments unit by the end of the second quarter or the start of the third quarter, new Chief Executive Jos Dijsselhof told reporters on Wednesday.

Zurich-based SIX, owned by around 130 domestic and foreign banks, last year split out the business -- which processes payments and provides debit and credit card terminals to retailers, restaurants and hotels -- from its core business in preparation for the stake sale.

Reuters reported in September that SIX had hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs ($2.10 billion), amid a wave of mergers and acquisitions in the fragmented payments industry.

$1 = 0.9535 Swiss francs Reporting by Oliver Hirt, Editing by Michael Shields

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