Austria’s antitrust regulator has announced an extended review of a Switzerland-based financial services group’s takeover of Paylife, a payment card service provider based in Austria. SIX planned to acquire the company from four Austrian banks in a deal slated to be finalized by the middle of this year for a reported $131 million. Raiffeisen Zentralbank, Bank Austria , Erste Group and BAWAG collectively own most of Paylife. Authorities have referred the case to the Austrian cartel court for a phase-two review; it’s a move that could delay the transaction by up to five months. Exact terms of the deal have not been revealed. Despite the antitrust watchdog’s recognition that the deal could prevent collusion between the banks, the regulator stated that concerns remain.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI