June 30, 2020 / 9:50 AM / 4 days ago

EU antitrust regulators to rule on Mastercard's Scandinavian e-pay deal by August 3

FILE PHOTO: A sticker shows that a store accepts MasterCard in Harvard Square in Cambridge, Massachusetts, U.S., July 25, 2018. REUTERS/Brian Snyder

BRUSSELS (Reuters) - EU antitrust regulators will decide by Aug. 3 whether to clear Mastercard Inc’s bid for part of Scandinavian payments group Nets, according to a European Commission filing.

Mastercard’s planned acquisition of European rival Nets’ three divisions covering corporate clearing, instant payments and e-billing, has already triggered regulatory concerns.

The EU competition enforcer, which agreed to review the deal following requests from Austria, Denmark, Finland, Norway, Sweden and Britain, in April said the deal threatens to significantly affect competition in the Nordic area, Europe and Britain.

Mastercard sought EU approval on June 26, the Commission site showed.

The Commission can approve the deal with or without concessions in its preliminary review or open a four-month investigation if it has serious concerns.

Reporting by Foo Yun Chee, editing by Louise Heavens

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