MasterCard (MA) Willing to Cooperate with EC Over Anti-Competitive Probe
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April 9, 2013 11:35 AM EDT
This morning it was learned that the European Commission (EC) opened formal proceedings to investigate whether MasterCard (NYSE: MA) may be hindering competition.
Commenting on developments, analyst Timothy Willi of Wells Fargo said, "Although we believe the prospect of increased... More
April 9, 2013 9:52 AM EDT
MasterCard (NYSE: MA) is lower Tuesday morning following ealier reports that the European Commission would be opening a probe into the practices of the cedit card giant. The investigation is over inter-bank fees and related practices.
For more color on the EC... More
April 9, 2013 6:57 AM EDT
The European Commission (EC) has opened formal proceedings to investigate whether MasterCard (NYSE: MA) may be hindering competition in the European Economic Area (EEA) with regard to payment cards, in breach of EU antitrust rules. The Commission has concerns that some of MasterCard's inter-bank fees and related practices may be anti-competitive. An opening of proceedings does not prejudge the outcome of the investigation.
Payment cards are of crucial importance across the EU internal market, in particular for purchases across borders or over the internet. European consumers and businesses are making more than... More
