Mastercard Nets deal under review

April 07, 2020 | Payments

Written by FinTech Alliance

Mastercard Nets deal under review

The European Commission will examine Mastercard’s bid for Nets.

In Brief:

  • Mastercard intends to buy a majority stake in Nets’ corporate services business.

  • The European Commission is looking into this at the request of six countries.

  • It will examine concerns over competition if the deal were to go ahead.

What does this mean?

The deal was announced in August last year but six nations including Britain have said it threatens to significantly affect competition in the Nordic area and in Britain, so Mastercard will now have to gain EU approval for the transaction.

Read more here.

 

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