View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 8, 2020

Worldline may need to offer concessions to secure EU nod for Ingenico deal

French payments company Worldline may have to offer concessions in order to get EU antitrust nod for the planned takeover of Ingenico, Reuters has reported.

In February, Worldline launched a €7.8bn ($9.23bn) bid to buy its peer Ingenico to form the fourth biggest payments outfit in the country.

However, this bid is subject to regulatory approvals, including the European Union (EU) antitrust regulatory approval.

The payments heavyweight needs to offer concessions to the European Commission, or convince the EU competition enforcer that this move is unnecessary, prior to the deadline.

Worldline has until 9 September 2020 to offer concessions to the Commission.

In the absence of concessions, the payments outfit may face a full-scale probe to clear the antitrust hurdles.

The Commission is set to approve or reject Worldline’s takeover bid for Ingenico by 16 September 2020.

In a statement, Worldline said: “We are pursuing the usual procedure of discussions with the Commission and the process is underway, within the expected timetable.”

The plan to buy Ingenico comes after the French IT company Atos divested from Worldline last year.

The deal, if approved, will create a company that will have an extended partnership with German savings banks.

Recently, Worldline acquired a 53% stake in GoPay, an Eastern European payments services provider.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International