Visa Fails To Escape €10.2M Antitrust Fine

Law360, New York (April 14, 2011, 1:34 PM EDT) -- Visa Inc.'s European unit on Thursday lost its bid to overturn a €10.2 million ($14.7 million) fine from the European Union's antitrust watchdog for refusing to let investment bank Morgan Stanley join its credit card network.

The EU General Court rejected several arguments from Visa Europe Ltd. claiming that its decision to deny the bank the right to issue Visa cards in the U.K. for six years in the early 2000s did not violate EU competition law.

The European Commission, which applauded Thursday's ruling, fined Visa...
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