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BRIEF-Mastercard proposes remedies to competition watchdog to gain Vocalink acquisition approval
January 18, 2017 / 7:10 AM / 10 months ago

BRIEF-Mastercard proposes remedies to competition watchdog to gain Vocalink acquisition approval

Jan 18 (Reuters) - Mastercard

* Mastercard and Vocalink have proposed remedies to CMA which could address its competition concerns by reducing cost to link of switching from Vocalink to alternative suppliers of infrastructure services

* CMA has decided that there are reasonable grounds for believing that proposals, or a modified version of them, might be acceptable to remedy competition concerns it has identified

* Vocalink making its connectivity infrastructure available to a new supplier of infrastructure services to link

* Vocalink transferring or licensing to link intellectual property rights relating to link lis5 messaging standard, which members of network use to communicate when customers use cash machines

* Vocalink contributing to link members’ switching costs

* CMA has until 15 march 2017 to consider whether to accept undertakings, although CMA may decide to extend this deadline to 15 may 2017 if it decides that there are special reasons for doing so Source text for Eikon: Further company coverage: (Reporting by Dasha Afanasieva)

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