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
Top Antitrust Expert Joins Cravath from Paul Weiss
Jan 21, 2025 by
CPI
CMA Chief Removed as UK Government Targets Regulatory Overhaul
Jan 21, 2025 by
CPI
Court Denies Dismissal in Crab Price-Fixing Lawsuit
Jan 21, 2025 by
CPI
TikTok Stays Online for Now: Trump Floats US Ownership Deal
Jan 21, 2025 by
CPI
Hong Kong Watchdog Unveils Compliance Tool for Small Businesses
Jan 21, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Pharmacy Benefit Managers
Jan 20, 2025 by
CPI
Untangling the PBM Mess
Jan 20, 2025 by
Kent Bernard
Using Data, Not Anecdotes, to Analyze Criticisms of Pharmacy Benefit Managers
Jan 20, 2025 by
Dennis Carlton
Vertical Integration and PBMs: What, Me Worry?
Jan 20, 2025 by
Lawton Robert Burns & Bradley Fluegel
The Economics of Benefit Management in Prescription-Drug Markets
Jan 20, 2025 by
Casey B. Mulligan