UK CMA Launches Formal Review Into Visa's Acquisition of Plaid
June 29 2020 - 2:50AM
Dow Jones News
By Ian Walker
The U.K. Competition and Markets Authority said Monday that it
is starting a formal review into Visa Inc.'s agreed acquisition of
fintech startup Plaid Inc. to see if the merger would result in a
"substantial lessening of competition" within the U.K.
The regulator has set a deadline of Aug. 24 to decide whether to
allow the deal to proceed or to forward it for a deeper review.
Visa in January said it would buy Plaid for $5.3 billion, as
part of an effort by the card giant to tap into consumers' growing
use of financial-technology apps and noncard payments.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 29, 2020 02:35 ET (06:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Visa (NYSE:V)
Historical Stock Chart
From Aug 2024 to Sep 2024
Visa (NYSE:V)
Historical Stock Chart
From Sep 2023 to Sep 2024