EU sets September 16 deadline for decision on $9.2 billion Worldline, Ingenico deal
Reuters
Published Aug 13, 2020 11:35
BRUSSELS (Reuters) - EU antitrust regulators will decide by Sept. 16 whether to clear French payments company Worldline's (PA:WLN) 7.8-billion-euro ($9.23 billion) buy of rival Ingenico (PA:INGC) to create a European leader.
Worldline, born out of French IT company Atos (PA:ATOS), sought European Commission approval for the deal on Aug. 12, according to a filing on the EU competition enforcer's website.
The Commission can either clear the deal with or without conditions or it can open a four-month long investigation if it has serious concerns.
The payments sector has seen a wave of consolidation in recent months as companies seek a foothold in digital transactions, prompted in part by the growing use of smartphone-based online payments like Apple's (O:AAPL) Apple Pay and WeChat (HK:0700).
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Written By: Reuters
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