PayPal's $2.2B Swedish Merger Passes UK Competition Test
Law360, London (April 30, 2019, 3:44 PM BST) -- The U.K.’s antitrust enforcer announced provisional approval on Tuesday for PayPal’s $2.2 billion takeover of Swedish competitor iZettle AB, after it found that the merged company would still face significant competition from its rivals.
The Competition and Markets Authority said that customers of the two companies would be willing to take their business elsewhere and that the rivals of the merged business, Worldpay and Barclaycard, will continue to keep checks on its market position.
“As a result of this detailed investigation the CMA has provisionally found that the merger does not raise competition concerns,” the watchdog said in a statement....
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