UK Court Blocks JPMorgan’s Attempt to Take Over Viva Wallet
JPMorgan Chase has been dealt a legal blow in its bid to take full control of Greek fintech company Viva Wallet.
A UK court has ruled against the banking giant’s attempt to pursue a $1.1 billion lawsuit targeting Viva’s leadership.
The dispute traces back to JPMorgan’s 2022 acquisition of a 48.5% stake in Viva. Under a shareholder agreement, the bank would have the right to buy out the remaining shares—held by CEO Haris Karonis’ firm, Werealize—if Viva’s valuation dropped below €5 billion by July 30, 2025.
Alleging that Viva deliberately obstructed growth opportunities to keep its valuation above that threshold, JPMorgan tried to trigger its buyout option and sued when it failed. The UK court has now blocked the lawsuit, halting the bank’s efforts.
WeRealize welcomed the decision and called on JPMorgan to pursue constructive talks instead. The fintech’s spokesperson said it’s time for the bank to “step aside” and let Viva realize its full potential.
JPMorgan, meanwhile, says it remains committed to the company and will continue dealing with ongoing legal matters, including separate defamation suits filed in Greece by both parties.
Presiding Judge David Foxton described the business relationship as “acrimonious,” but acknowledged it had at least proven lucrative—for the lawyers.
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