European e-scooter operator TIER Mobility explores merger – Sky News – One America News Network
(Reuters) -Berlin-based e-scooter operator TIER Mobility is working with bankers at Qatalyst Partners for a potential merger or sale with a rival, Sky News reported on Monday.
The talks come months after TIER was said to be working with Rothschild to raise hundreds of millions of pounds of additional funding, the report added. The talks, however, did not produce satisfactory terms for TIER, the report said, citing industry sources.
TIER Mobility declined to comment, whereas Qatalyst Partners did not immediately respond to Reuters request for comment.
In 2021, the Softbank-backed TIER bought bike-sharing firm Nextbike to create Europe’s largest provider of shared lightweight vehicles.
TIER Mobility operates in 10 countries and employs about 900 people, according to its website.
(Reporting by Baranjot Kaur in Bengaluru; Editing by Shailesh Kuber)
