Mastercard has offered concessions in an attempt to address EU antitrust concerns about its planned purchase of part of Scandinavian payments group Nets, according to a European Commission filing on Tuesday, July 28.
The US payments group announced a deal last August to acquire three divisions of European rival Nets, covering corporate clearing, instant payments, and e-billing, reported Reuters.
The EU’s competition enforcer has stated that the acquisition threatens to significantly affect competition in the Nordic area, the European Economic Area, and Britain.
It extended its scrutiny of the deal to August 17 to allow for feedback from rivals and customers regarding Mastercard’s concessions but did not provide details of the offer.
The Commission can either clear the deal based on the concessions, demand more, or open a four-month long investigation if it has serious doubts.
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
Judge Dismisses Antitrust Lawsuit Against Ivy League Over Athletic Scholarships
Oct 11, 2024 by
CPI
FTC and DOJ Revamp Merger Guidelines to Identify Illegal Transactions More Efficiently
Oct 11, 2024 by
CPI
US Consumer Watchdog Eyes Expansion of ‘Junk Fee’ Crackdown Ahead of 2024 Election
Oct 10, 2024 by
CPI
Brazil Proposes Reform to Competition Law Targeting Big Tech
Oct 10, 2024 by
CPI
Meta Enhances User Data Control, Resolving German Antitrust Dispute
Oct 10, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh