Visa still owns a part of Square shares, even though it has a competing product

February 12, 2016 3:19 PM

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Visa disclosed it owns 3.5 million shares of Square's Class B stock, representing 9.99% of total Class B shares, according to a regulatory filing on Thursday.

Given Square has roughly 322 million total outstanding shares (both Class A and Class B), Visa's actual ownership of the company is much smaller than the 9.99% mentioned in the filing.

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