S&P Affirms Ratings on Visa (V) Amid Move to Acquire Visa Europe; Outlook Remains Stable
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Visa to buy Visa Europe in deal worth as much as $23 billion
November 2, 2015 6:12 AM ESTBy Richa Naidu and Sudarshan Varadhan
(Reuters) - Visa Inc (NYSE: V) said on Monday it would buy former subsidiary Visa Europe Ltd for up to $23.3 billion in a deal that will give the world's largest payments network a chance to cut costs over the long term and raise fees in the second-biggest card market.
The price for the long-anticipated deal was higher than many had expected, but ended a period of strategic uncertainty that had dogged Visa in recent months.
Visa Inc and Visa Europe, a cooperative of... More
Visa (V) Misses Q4 EPS by 1c
November 2, 2015 6:07 AM ESTVisa (NYSE: V) reported Q4 EPS of $0.62, $0.01 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $3.6 billion versus the consensus estimate of $3.57 billion.
Visas fiscal fourth quarter was a strong finish to an equally strong fiscal full-year 2015 in terms of revenue and earnings per share growth in the face of a continued challenging global... More
