The UK Competition and Markets Authority (CMA) on Thursday said it’s investigating whether Visa’s $320 million purchase of Earthport, a UK-based cross-border payments provider, would lessen local market competition.
In February, Visa trumped Mastercard Inc’s bid with a sweetened offer of about 247 million pounds, prompting Earthport to recommend shareholders to accept the Visa offer.
UK’s Competition and Markets Authority invited comments from parties on the deal until April 18.
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