The Spanish Competition Authority fines a payment processing company for infringing commitments offered to obtain merger clearance (REDSYS)

On 17 December 2012 the Spanish Competition Authority ("CNC") imposed a fine of €819,000 on REDSYS S.L. ("REDSYS") as it considered that the payment processing company had infringed the commitments which it had voluntarily offered in Phase 2 of the procedure in order to obtain clearance for its merger with REDY S.A. in March 2011 [1]. Following the adoption of the clearance decision, the Investigations Division of the CNC was entrusted with the surveillance of the operative part of the Resolution clearing the transaction and had thus to verify that the commitments were duly implemented. It was consequently during the course of the monitoring procedure of the Investigation Division that the CNC found that REDSYS had failed to abide its commitments. In its Resolution, the CNC

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

Andrea Redondo, The Spanish Competition Authority fines a payment processing company for infringing commitments offered to obtain merger clearance (REDSYS), 17 December 2012, e-Competitions December 2012, Art. N° 50301

Visites 379

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues