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UK finance minister welcomes MasterCard's takeover of payments firm VocaLink
July 21, 2016 / 1:56 PM / a year ago

UK finance minister welcomes MasterCard's takeover of payments firm VocaLink

LONDON (Reuters) - Finance minister Philip Hammond said MasterCard’s (MA.N) decision to buy London-based payments processing company VocaLink showed foreign investors’ continued confidence after Britain’s decision to leave the European Union.

Britain's new Chancellor of the Exchequer, Philip Hammond, waits to greet U.S. Treasury Secretary Jack Lew, at number 11 Downing Street in London, Britain July 14, 2016. REUTERS/Neil Hall

“MasterCard’s decision to buy VocaLink shows that Britain remains an attractive destination for international investors. Britain is and continues to be an open and globally facing country in which to do business,” he said.

MasterCard agreed on Thursday to pay 701 million pounds ($924 million) for a 92.4 percent stake in VocaLink, which was mostly owned by a consortium of British banks.

Reporting by Kate Holton and David Milliken; editing by Stephen Addison

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