A PYMNTS Company

EU To Rule On Mastercard’s Scandinavian e-Pay Deal By August

By  |  June 30, 2020

EU antitrust regulators will decide by August 3 whether to clear Mastercard’s bid for part of Scandinavian payments group Nets, according to a European Commission filing, reported Reuters. 

    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.

    Mastercard’s planned acquisition of European rival Nets’ three divisions covering corporate clearing, instant payments, and e-billing, has already triggered regulatory concerns. 

    The EU competition enforcer, which agreed to review the deal following requests from Austria, Denmark, Finland, Norway, Sweden, and Britain, in April stated the deal threatens to significantly affect competition in the Nordic area, Europe, and Britain. 

    Mastercard sought EU approval on June 26, the Commission site showed. The Commission can approve the deal with or without concessions in its preliminary review, or open a four-month investigation if it has serious concerns.

    Full Content: Reuters

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