PayPal, IZettle Deal Passes Final Regulator Hurdle In UK
Law360, London (June 12, 2019, 4:54 PM BST) -- PayPal’s $2.2 billion takeover of Swedish competitor iZettle was approved by the U.K.’s antitrust enforcer Wednesday after it found that the merged company would still face significant competition from its rivals.
The Competition and Markets Authority officially gave the two companies the nod about a month after the regulator provisionally cleared the deal, following an in-depth, detailed antitrust investigation.
California-based PayPal acquired the Swedish start-up last year but was forced to halt integration efforts in the U.K after the CMA warned that the takeover could stifle competition and force up costs for consumers. It ordered both businesses to address its concerns or...
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