Brazil Watchdog Eases Up On Facebook, Cielo Payment Deal
By Christopher Cole (July 1, 2020, 4:25 PM EDT) -- Brazil's competition authority has dropped a recent decision to block a partnership between Facebook and credit card issuer Cielo, but says it will continue probing the deal for possible anti-competitive effects.
The Administrative Council for Economic Defense, widely known by its Portuguese acronym CADE, in a decision Tuesday said it had reconsidered the case in light of clarifying details it received from Facebook and Cielo. The worry was that allowing Cielo payments to be made through Facebook's WhatsApp, a messaging application, could lock out competing services in Brazil.
CADE said the information provided by both parties, which requested that it take...
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