May 13, 2008 / 2:10 PM / 10 years ago

Discover gets antitrust OK for Diners Club buy

WASHINGTON (Reuters) - Discover Financial Services (DFS.N) has received U.S. antitrust approval to acquire the Diners Club International card business from Citigroup (C.N), U.S. officials said on Tuesday.

Antitrust authorities completed their review of the $165 million deal without taking any action to block it, the U.S. Federal Trade Commission said in a daily notice listing deals that have been cleared by antitrust officials.

In April, Citigroup agreed to sell its Diners Club International credit card network to Discover. Diners Club generates more than $30 billion of annual card volume outside North America, which will help Discover expand its global presence, especially among business travelers.

Reporting by Julie Vorman, editing by Gerald E. McCormick

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