Why Nu Holdings (NU) stock rose after it said it is not pursuing a Monzo deal

Nu Holdings (NYSE: NU), the parent of Brazil's Nubank, said in a filing with the Securities and Exchange Commission after the close on Wednesday, September 30, 2026 that it "is not pursuing a transaction with Monzo," four days after Sky News reported early talks that would value the British digital bank at £8 billion to £10 billion. The filing crossed at 4:32 p.m. ET, and NU rose 4.82% in the first minute of after-hours trading, from 12.85 to 13.47, and was still 4.67% higher ten minutes later.

What Nu said, and what it left open

When the report appeared on Saturday, September 26, Nubank said it does not comment on rumours or speculation. The Form 6-K departed from that practice, and Bloomberg Línea reported that Nu made an exception because of how far the media speculation had gone. The filing said Nu regularly evaluates partnerships, investments and acquisitions and named its priorities as deepening its position in Brazil, scaling in Mexico and Colombia, and building a presence in the United States and elsewhere through Nu Global. It did not say whether talks with Monzo had taken place.

Reuters, citing Sky, reported that Monzo had hired Morgan Stanley and Qatalyst Partners. The £8 billion to £10 billion range is roughly double the £4.5 billion valuation Monzo reached in an employee share sale in October 2024. Monzo has two other routes open: talks with private equity firms, Advent International among them, about a minority stake, and a funding round that would value it above £8 billion.

1. August 13, 2026: Nu reports second-quarter net income of $1.061 billion and 139 million customers.
2. September 26, 2026: Sky News reports early-stage talks for Nubank to buy Monzo; Nubank declines to comment.
3. September 30, 2026, 4:32 p.m. ET: Nu files a 6-K saying it is not pursuing a transaction with Monzo.

Why ruling out a deal lifted the buyer's stock

Nu has grown by building its own banks in Latin America, and its customer base is in Brazil, Mexico and Colombia. Buying Monzo at the reported price would have meant a large acquisition in a country where Nu has no bank, and the filing removed that prospect, with buyers stepping in within the first minute.

The NU reaction, measured

The 4.82% first-minute gain on September 30 dwarfed NU's response to its own quarterly results: when the second-quarter figures crossed at 5:52 p.m. ET on August 13, the stock moved 0.13% in a minute, from 14.97 to 14.99. The first minute after the 6-K traded 252,405 shares, and 1,352,362 changed hands in fifteen minutes. The candlestick chart's last bar, 14 minutes after the headline, closed at 13.54, 5.37% above the reference. Most of the gain carried into the next day: shortly after the open on Thursday, October 1, NU was at 13.305, 3.54% above the 12.85 reference from the evening before.