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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. 

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

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