PayPal Fined Over Lapses During Buyout Of Rival

Law360, London (September 25, 2019, 12:09 PM BST) -- Britain's competition watchdog has slapped PayPal Holdings Inc. with a £250,000 ($311,000) fine for breaching rules in the merger approval process after it acquired Swedish payments rival iZettle.

The Competition and Markets Authority eventually green-lighted the £2.2 billion takeover by the U.S. payments company in April after it decided that the merger would not hamper competition in the British market.

The fine handed down on Tuesday is connected to the six-month period while the CMA was probing the tie-up. The regulator had issued an enforcement order halting the merger of the two businesses in the U.K. while it carried out its investigation....

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