EU clears acquisition of Visa Europe by Visa Inc.
Xinhua, June 3, 2016 Adjust font size:
European Union (EU) regulators have approved the acquisition of Visa Europe of Britain by Visa Inc. of the United States, saying the acquisition would raise no competition concerns.
The European Commission, or the EU executive body, on made the remarks in a Friday statement.
According to an agreement concluded after Visa Inc. and Visa Europe's de-merger in 2007, the companies cannot operate in the same territories.
Visa Europe is active in the European Economic Area (EEA) and neighboring countries while Visa Inc. is active in the rest of the world.
The companies' activities do not overlap and the Commission concluded that the proposed acquisition would therefore raise no competition concerns. Endit