BREAKING NEWS

BREAKING NEWS

Britain provisionally approves PayPal-iZettle deal

Britain provisionally approves PayPal-iZettle deal
The PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. REUTERS/Fabrizio Bensch -
Copyright
FABRIZIO BENSCH(Reuters)
Text size Aa Aa

(Reuters) - Britain's competition watchdog on Tuesday provisionally cleared PayPal Holdings Inc's $2.2 billion (£1.6 billion) takeover of Swedish fintech startup iZettle, saying the deal did not raise competition concerns.

The Competition and Markets Authority (CMA) had ordered the probe in December on the grounds that the companies had not sufficiently addressed concerns around potential lower competition, higher prices, or a lower quality service for customers in the UK mobile payments market because of the deal.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Anil D'Silva)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.