European Commission gives conditional approval to Mastercard's acquisition of Nets

Wednesday 19 August 2020 09:58 CET | News

European Commission (EC) has given conditional approval to Mastercard for the acquisition of Nets, the Denmark-based payment solutions provider. 

The EC’s concerns centered around potential competitive issues in the European Economic Area (EEA) regarding managed solutions for account-to-account core infrastructure services (A2A CIS). The initial deal for USD 3.2 billion was announced in 2019, but it has taken some time to close due to the EC’s issues with competition.

The receiving business would have exclusive technology license rights in the EEA and non-exclusive rights elsewhere. The transfer includes personnel and services necessary to provide managed services. It is not clear whether this agreed solution changes the original price of the acquisition.

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Keywords: European Commission, MasterCard, Nets, EC, Denmark, payments , European Economic Area, EEA, account-to-account, A2A CIS, technology
Categories: Payments & Commerce
Countries: Europe
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