A PYMNTS Company

EU: Visa to buy Visa Europe in deal worth as much as $23 billion

By  |  November 2, 2015

Visa said on Monday it would buy former subsidiary Visa Europe for up to $23.3 billion in a deal that will give the world’s largest payments network a chance to cut costs over the long term and raise fees in the second-biggest card market.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The price for the long-anticipated deal was higher than many had expected, but ended a period of strategic uncertainty that had dogged Visa in recent months.

    Visa Inc and Visa Europe, a cooperative of European banks with more than 500 million cards, were part of a global bank-owned network until 2007.

    Most of the units merged to form Visa Inc, which went public in 2008, leaving Visa Europe as a separate entity.

    The deal brings all of Visa’s networks under one roof again, cementing its lead over nearest-rival MasterCard.

    Full content: Forbes

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.