The European Commission has revealed its approval
The European Commission has approved the €2.85 billion acquisition of Nets’ account-to-account payment business by Mastercard.
The European Commission thinks the proposed transaction no longer raises competition concerns in the EEA.
Both companies were offered to transfer a global license to a suitable player to distribute, supply, sell, develop, modify, upgrade, or otherwise use Nets’ Realtime 24/7 technology.
Besides, the purchaser will have access to the licensed technology on an exclusive basis in the EEA and, on a non-exclusive basis, outside of the EEA.
The transfer also includes all necessary personnel and services, such as consultancy services and transitional support services.
We’ve reported that over half of the European online businesses consider cross-border expansion within the EU increasingly difficult.