PayPal Case Illustrates Difficulty Of Avoiding CMA Penalties
Law360 (October 11, 2019, 2:57 PM EDT) -- On Sept. 24, the U.K. antitrust authority imposed a £250,000 fine on PayPal Holdings Inc. in connection with its acquisition of iZettle, a competing Swedish payment systems provider. This is the highest fine levied to date for a single violation of U.K. merger control rules. The fine came after the Competition and Markets Authority held that PayPal had breached an initial enforcement order by contacting U.K.-based customers about its acquisition during the CMA’s merger review.
The case illustrates that despite the U.K. being a voluntary filing jurisdiction, merging parties may need to be careful when engaging in post-close integration while an...
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