Western Union signed the "King of Bollywood" Shah Rukh Khan as its brand ambassador. The actor will represent Western Union and its money transfer services worldwide.
The company said that, according to its research, migrants often watch movies from their native counties as a way to connect to their homelands. Bollywood films ranked second among platforms that helped "the Indian diaspora" living away from their home country connect with home, the company said.
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"We are very excited to have Shah Rukh Khan as a Western Union ambassador," Nidhi Gupta, Western Union Digital Senior Marketing Manager, Americas said in a statement. "He is tech savvy and digitally fluent, and symbolizes our ability to create connections for modern families around the world with their loved ones back home."
TheStreet Ratings team rates WESTERN UNION CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate WESTERN UNION CO (WU) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, increase in net income, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."