February 12, 2016 / 7:31 PM / 2 years ago

CORRECTED-Visa discloses 9.99 pct stake in Class A shares of Square (Feb. 11)

(Corrects throughout to show Visa’s 9.99 percent stake and Blavatnik’s 11.4 percent stake are in Class A shares of Square, not the entire company; adds fourth paragraph to explain Visa’s holding)

Feb 11 (Reuters) - Visa Inc, the world’s largest payments network operator, disclosed a 9.99 percent holding of Class A shares in mobile payment firm Square Inc.

The stake in the company, run by Twitter Inc CEO Jack Dorsey, was revealed in a regulatory filing on Thursday.

Billionaire investor Leonard Blavatnik disclosed in November an 11.4 percent passive stake in Class A shares of Square, which went public earlier that month.

Visa said it owns about 4.19 million Class B shares of Square, which are not traded publicly. The company has the option to convert 3.52 million of those shares into Class A stock, giving it a 9.99 percent stake in the share class. (Reporting By Lehar Maan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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