On October 1, Nu Holdings Ltd. rose 3.87% in regular trading, trading at $13.195/share, with turnover of $77.51 million. The stock continued its recovery trajectory after previously plunging approximately 10% on reports of a potential multi-billion-pound acquisition of UK digital bank Monzo.

On the news front, Nu Holdings officially disclosed through a regulatory filing that the company is not pursuing a transaction with Monzo. The company stated it remains focused on its existing strategic priorities and that its capital allocation framework is unchanged. The formal denial effectively resolved the uncertainty surrounding earlier media reports that Nu Holdings was in talks to acquire Monzo in a deal valued at between 8 billion and 10 billion pounds.

The clarification alleviated investor concerns over potential capital dilution from a large-scale cross-border acquisition. Nu Holdings currently has no substantive core operations in the UK or continental Europe. Monzo had reportedly engaged Morgan Stanley and Slaughter & May as advisors for the potential transaction before the deal was ruled out.

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