Berenberg reiterates 'buy' on Bango after DOCOMO Digital acquisition

"As we have consistently stated, scale is key to success in carrier billing," they argued.

And DOCOMO had done just that, they pointed out, building up a portfolio of international merchant clients that included the likes of Amazon and Shopify, alongside partnerships with 60 mobile network operators which together had over 1.9bn users.

Furthermore, they expected the deal to be earnings accretive from fiscal year 2023, so with the "backdrop for mobile commerce as strong as possible", they stuck to their recommendation to 'buy'.

Their 300.0p target price for the shares was also unchanged.