The UK Competition Authority clears an acquisition of a Swedish fintech company after completing an in-depth phase II review (PayPal / iZettle)

The Competition and Markets Authority (CMA) has provisionally cleared PayPal’s $2.2 billion acquisition of Swedish fintech company iZettle after completing an in-depth, Phase 2 review. The CMA’s decision comes amidst mounting pressure on antitrust authorities to scrutinise deals involving digital and tech more intensely and sustained interest in fintech. The CMA’s decision is welcome news for UK fintechs, investors and deal-makers, but contains a few important messages which clients in the financial services and fintech sectors should keep front of mind. 1. Be ready to defend deal valuation and rationale National competition authorities across Europe are increasingly interested in deal valuation. In the UK, where there is currently no deal value threshold for merger review, the recent

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Authors

  • Freshfields Bruckhaus Deringer (London)
  • Freshfields Bruckhaus Deringer (London)
  • Freshfields Bruckhaus Deringer (London)

Quotation

Fiona O'Malley, Martin McElwee, Jenny Leahy, The UK Competition Authority clears an acquisition of a Swedish fintech company after completing an in-depth phase II review (PayPal / iZettle), 12 June 2019, e-Competitions June 2019, Art. N° 94935

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