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BREAKING NEWS

Mastercard to buy part of payments company Nets for $3.19 billion

Mastercard to buy part of payments company Nets for $3.19 billion
FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo -
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Benoit Tessier(Reuters)
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(Reuters) – Payments processor Mastercard Inc <MA.N> on Tuesday said it would buy a majority of the corporate services businesses of European payments company Nets for about $3.19 billion (£2.62 billion).

The deal is expected to close in the first half of 2020, the company said in a statement.

(The story corrects headline to clarify Mastercard is acquiring part of Nets’ business, not the whole company)

(Reporting by Bharath Manjesh in Bengaluru)

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