Argentine Stock Market Plunges Amid Global Economic Concerns; Prisma Sold After Government Mandate

The Buenos Aires stock exchange experienced a significant drop, plummeting nearly 4% when measured in dollars with cash settlement. The Merval index has declined by approximately 14% in February, with some stocks, such as Comercial del Plata, falling by as much as 20%. This downturn contrasts sharply with the rallies observed in recent months. Prisma Medios de Pago, formerly controlled by 14 banks, was sold as part of a government initiative to eliminate vertical integration within the sector. Prisma is a leader in Argentina in acquiring through its Payway and LaPos brands, offering point-of-sale terminals, payment gateways for e-commerce, transaction processing, and value-added services to businesses nationwide. It also provides processing services for credit, debit, and prepaid cards, electronic bill payment through Pagomiscuentas, and operates the Banelco ATM and bank transfer network. Internationally, it offers acquiring and issuing processing services to clients in 14 Latin American countries.