You are here: Home » International » News » Companies
Business Standard

Visa to buy Visa Europe in deal worth as much as $23 billion

The deal will give the world's largest payments network a chance to cut costs over the long term and raise fees in the second-biggest card market.

Reuters 

Visa Inc said on Monday it would buy former subsidiary Visa Europe Ltd for up to $23.3 billion in a deal that will give the world's largest payments network a chance to cut costs over the long term and raise fees in the second-biggest card market. The price for the long-anticipated deal was higher than many had expected, but ended a period of strategic uncertainty that had dogged Visa in recent months. Visa Inc and Visa Europe, a cooperative of European banks with more than 500 million cards, were part of a global bank-owned network until 2007. Most of the units merged ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, November 03 2015. 01:15 IST
RECOMMENDED FOR YOU